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1985 (8) TMI 143 - ITAT MADRAS-CExtract: .......limit the levy of interest. At the same time we wish to observe that the finding given by the CIT (A) should be taken note of by the ITO for the purpose of exercising discretion under r. 40 when the assessee applies for waiver or reduction of interest charged under s. 217 (1A) as the fact was judicially noticed. In the result the appeal is allowed.
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