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2004 (5) TMI 266 - AT - Income TaxExtract: .......ms to be a reasonable cause in view of s. 273B of the Act. So, penalties cannot be exigible. In these circumstances, we do not find any infirmity in the order of the learned CIT(A) and consequently, we uphold the order of the first appellate authority and delete the penalties. 5. In the result, all the above appeals of the Department are dismissed.
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