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2003 (10) TMI 266 - AT - Income TaxExtract: .......e been levied upto the end of the financial year 31st March, 1992, but it was not done so. In these circumstances, I am of the considered opinion that the penalty is barred by limitation. I, therefore, annul the penalty order and set aside the order of the CIT(A). Accordingly, penalty is deleted. 5. In the result, appeal of the assessee is allowed.
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