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1981 (2) TMI 132 - ITAT JAIPURExtract: ....... under the belief that deposit was to be made by 31st Dec., 1976. No finding has been recorded by the authorities below that no such belief was entertained by the assessee. In our opinion, such belief constitutes reasonable cause. This being so, we do not upheld the finding of the AAC and cancel the penalty. 3. In the result, the appeal is allowed.
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