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2004 (6) TMI 256 - AT - Income TaxExtract: .......(1)(c). 12. Even on merits, taking the totality of the facts and circumstances of the case referred to elsewhere in this order, into consideration, we are of the view that penalty under s. 271(1)(c) in this case is not warranted. We accordingly, cancel the levy of penalty under s. 271(1)(c). 13. In the result, the appeal of the assessee is allowed.
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