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1997 (5) TMI 74 - AT - Income TaxExtract: .......f advance tax by the assessee although the assessee cannot be considered to be guilty of the default of having filed an estimate of advance tax which he knew or had reason to believe to be untrue. Hence, we reverse the order of the CIT (Appeals) and direct that the penalty be cancelled. 9. In the result, the appeal filed by the assessee is allowed.
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