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2005 (4) TMI 17 - HC - Income Tax"1. Whether the Tribunal is correct in vacating the confirmation of the penalty imposed under section 271B? 2. Whether the Tribunal is correct in law in holding that the penalty order is also required to be vacated on account of being excessive in the quantum without appreciating that the quantum of penalty is fixed by the provisions of section 271B of the Act?" - we answer the first question referred to us in the affirmative, i.e., in favour of the assessee and against the Revenue. In view of our answer to the first question the second question has been rendered academic and is being returned unanswered
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