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2004 (12) TMI 15 - ALLAHABAD HIGH COURT"1. Whether, the penalty under section 28(1)(c) has rightly been cancelled by the Tribunal? 2. Whether, Tribunal is justified in ignoring the reasonable cause for inordinate delay in imposing penalty under section 28(1)(c) and in holding that the case of the assessee falls within the purview of the decisions of the hon'ble High Court in the case of Ram Kishan Baldeo Prasad v. CIT and in the case of Bisheshwar Lal v. ITO ?" - we answer both the questions referred to us in the affirmative, i.e., in favour of the assessee and against the Revenue
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