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1994 (2) TMI 100 - AT - Income TaxExtract: .......ples laid down in the judgment of the Calcutta High Court in CIT v. Birla Cotton Spg. and Wvg. Mills Ltd. 1985 155 ITR 448 are fully applicable to the present case. We are, therefore, of the view that the CIT(A) has rightly cancelled the penalty. We fully agree with him in his conclusion. His order is, therefore, upheld and the appeal is dismissed.
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