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1993 (12) TMI 92 - ITAT CHANDIGARHExtract: .......erial relating to computation of his total income and the present case is not covered by explanation or by main section 271(1)(c) of the Income-tax Act. No penalty under the above provision in this case was exigible. For these reasons, levy of penalty is held to be bad in law and is hereby cancelled. In the result, the assessee s appeal is allowed.
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