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2001 (1) TMI 232 - AT - Income TaxExtract: .......ng the aforesaid decision of this Bench as well as that of Hon rsquo ble High Court of Punjab and Haryana, we hold that the penalty cannot be levied under s. 271B in this case. The impugned order of the learned CIT(A) confirming the penalty under s. 271B is, therefore, reversed and the AO is directed to cancel the penalty. 6. The appeal is allowed.
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