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1993 (2) TMI 127 - AT - Income TaxExtract: .......he Act or where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute. In view of the foregoing, therefore, we hold that this is not a fit case to levy penalty under section 271B of the Act. We, therefore, cancel the impugned penalties. 12. In the result, both the appeals are allowed
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