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1992 (4) TMI 95 - AT - Income TaxExtract: .......ly say that in the peculiar factual matrix it could not be said that there existed aggravating factors so as to justify the imposition of penalty 150per cent even if for the sake of argument the penalty had been held to be leviable or justifiable. 16. In the result, whereas ITA No. 323/Jp/1989 is allowed, ITA No. 257/Jp/1990 fails and is dismissed.
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