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1994 (2) TMI 104 - AT - Income TaxExtract: .......s and the principles laid down in the judgment of the Calcutta High Court in CIT vs. Birla Cotton Spg. and Wvg. Mills Ltd. 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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