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1978 (9) TMI 120 - ITAT PATNA-BExtract: .......nterest was real. Under the above circumstances, the penalty could not be sustained and the case of the assessee is supported by the decision of Supreme Court in 76 ITR 696. Consequently, the penalty order passed by the IAC are set aside and the ITO is directed to refund the penalty, if already, collected. 5. In the result, the appeals are allowed.
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