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1996 (12) TMI 109 - AT - Income TaxExtract: .......s in question was clearly due to delay in obtaining tax audit report for the asst. yr. 1985-86. On the above circumstances we do not find any justification in levying penalty under s. 271B. We, therefore set aside the order of the CIT(A) and cancel the penalties levied for the assessment years in question. 6. In the result, the appeals are allowed.
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