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1979 (6) TMI 72 - ITAT GAUHATIExtract: .......ould be said that the statement of the assessee that the advance to the wife as a loan was inaccurate the benefit of the double as a regarding imposition of penalty inspite of there being no loss of revenue must also go to the assessee. We have, therefore, no hesitation in cancelling the penalties imposed. 8. In the result, the appeals are allowed.
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