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2002 (5) TMI 205 - ITAT CALCUTTA-EExtract: ....... exercised judicially as also keeping in mind all the relevant considerations. On this test also, as we have observed earlier, in this order the revenue s case fails. Accordingly, we direct deletion of the impugned penalty of Rs. 50,400 imposed on the assessee under section 272A of the Income-tax Act, 1961. 10. In the result, the appeal is allowed.
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