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1987 (7) TMI 151 - ITAT DELHIExtract: .......dent) The facts on record as detailed in paragraph 2 of my learned brother s order, show that the assessee has shown reasonable cause for the default. In the light of this finding of fact, there is no room for a penalty under s. 271(1)(a) of the IT Act. I, therefore, agree with my learned brother, that the penalty in question would stand cancelled.
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