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1977 (3) TMI 55 - AT - Wealth-taxExtract: .......filed did not show any deliberate under-valuation but was based on a bonafide belief of the assessee, and that this bonafide belief could be established from the facts on record. Hence, in our view, the ruling in Mahabir Metals Works rsquo case is not helpful here to the Revenue. 9. In the result, the penalty is cancelled and the appeal is allowed.
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