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1990 (1) TMI 106 - ITAT BOMBAY-CExtract: ....... s. 264 of the IT Act a copy of which has been filed at pages 55 to 59 of the compilation and the details of such loss are at page 57 of the compilation. Taking all the facts into consideration we hold that the levy of penalty in cases was not justified. The order of the learned CIT(A) is accordingly reversed. 6. The result, the appeals is allowed.
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