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2003 (10) TMI 274 - AT - Income TaxExtract: ....... Court in the case of ITO v. Babu Lal Jain 2001 251 ITR 656 as a good reason for his failure to get his accounts audited when the documents were still lying with the department and with which we also agree. Accordingly, no penalty was exigible in all these years on both the appellants before us. 13. As a result, all the three appeals stand allowed.
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