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2002 (11) TMI 268 - AT - Income TaxExtract: .......re, having a bona fide belief that such transaction will not be violative of the provisions of s. 269SS r/w s. 271D of the Act. We, therefore, hold that as there was a reasonable cause, no penalty under s. 271D was leviable. The penalty sustained by the CIT(A) is, therefore, cancelled. 13. In the result, the appeal filed by the assessee is allowed.
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