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2004 (12) TMI 316 - AT - Income TaxExtract: .......e case of the assessee is required to be taken. 15. In view of the above and after considering the entirety of the material, we hold that penalty under section 271C is not leviable in the case of the present assessee. We, therefore, set aside the findings of learned CIT(A) and cancel the penalty. 16. In the result, assessee s appeal stands allowed.
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