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1993 (11) TMI 94 - ITAT COCHINExtract: ....... of the Income-tax Act, 1961 for waiver of interest, the Dy. Commissioner of Income-tax had waived the interest to the extent of 50 . All these would go to strengthen our view additionally that the assessee had reasonable cause for late filing of the return. Therefore, we cancel the penalty. 10. In the result, the appeal of the assessee is allowed.
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