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2011 (5) TMI 1120 - ITAT HYDERABADExtract: ....... or foundation. In these facts of the case, we hold that it is not a fit case for levy of penalty under S.271(1)(c) of the Act, which is accordingly cancelled and the grounds of appeal of the assessee for both the assessment years are allowed. 6. In the result, both the appeals of the assessee are allowed. Order pronounced in the court on 20-5-2011
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