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2003 (4) TMI 233 - AT - Income TaxExtract: .......as either false or was not bona fide. Thus, we are of the considered opinion that the CIT(A) was not justified in sustaining the penalty in respect of addition of Rs. 60,000. Accordingly, the order of the CIT(A) is quashed and the impugned penalty cancelled. The grounds of appeal are allowed. 9. In the result, the appeal of the assessee is allowed.
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