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1981 (11) TMI 127 - ITAT MADRAS-DExtract: .......ed only in 1974 he could not have filed the estimate in March, 1972. Under such circumstances we are satisfied that the estimate filed by the assessee for the asst. yr. 1972-73 on 15th September, 1971 is not an untrue estimate. Hence no penalty under s. 273(a) is exigible. 5. In the result, the appeal is allowed and the penalty levied is cancelled.
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