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1976 (9) TMI 71 - ITAT MADRASExtract: .......sfer transactions were alone in the bona fide belief that they were not chargeable to sales tax. Hence we find the point for consideration in favour of the assesses. 7. In the result, the appeals are allowed, the orders of the Appellate Asst. Commissioner are set aside in both the appeals and the penalties imposed upon the appellants are cancelled.
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