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1995 (10) TMI 63 - AT - Income TaxExtract: .......ring the relevant financial year. Therefore, finally we agree with the CIT(A) that on consideration of the facts of the case, the assessees cannot be considered to be liable to levy of penalty under section 273(2)(c). Hence, we approve of the action of the CIT(A) in cancelling the penalties. 9. In the result, the departmental appeals are dismissed.
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