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2007 (10) TMI 323 - AT - Income TaxExtract: .......circumstances. as discussed hereinabove, the penalty under s. 221(1) of the Act levied by the AO was not called for and the same has been rightly deleted by the CIT(A). Accordingly, the order of the CIT(A) in this regard is upheld and ground of appeal taken by the Revenue is rejected. 22. In the result, the appeal filed by the Revenue is dismissed.
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