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2007 (6) TMI 245 - AT - Income TaxExtract: ....... cannot lead to levy of such a penalty. The cumulative effect of all the above facts makes out a just and sufficient cause for absolving the assessee from visiting such penalty. Accordingly, I set aside the order of learned CIT(A) and order to cancel/delete the impugned penalty of Rs. 1 lakh. 7. In the result, the appeal of the assessee is allowed.
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