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2005 (10) TMI 39 - HC - Wealth-taxPenalty levied by the Assessing Officer under section 18(1)(c) - authorities below have concurrently held that the assessee had no mala fide intention to furnish any inaccurate particulars. It is also not the case of the Revenue that the assessee had the mala fide intention of furnishing inaccurate particulars. Hence penalty cannot be imposed on the assessee as the assessee has no mala fide intention - Tribunal was justified in deleting the penalty levied by the Assessing Officer under section 18(1)(c) of the Wealth-tax Act
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