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2003 (3) TMI 315 - AT - Income TaxExtract: .......ed 7-3-2003 has concurred with the view of the Judicial Member. In accordance with the majority view, while upholding the imposition of penalty under section 271(1)(c) except in relation to addition of Rs. 36,000, we restrict the quantum of penalty to 100 instead of 150 imposed by the A.O. 3. As a result, appeal of the revenue gets partly accepted.
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