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1978 (10) TMI 76 - ITAT MADRAS-BExtract: ....... in conscious disregard of his obligation. There is no material to indicate that the assessee had delayed the submission of the return either in deliberate defiance of law or in conscious disregard of his statutory obligations. Hence, we hold that penalty it not justifiable in this case. Accordingly, we cancel the penalty and the appeal is allowed.
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