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1976 (5) TMI 24 - AT - Income TaxExtract: .......eturn only on 31st Dec., 1970, the same day on which the assessee filed his return, relying on Venkateswara Power Rolling Mills and Another vs. CIT, Bangalore(1) we hold that there was reasonable cause for the delay in filing the return by the assessee. We accordingly allow the appeal and cancel the penalty. 3. In the result, the appeal in allowed.
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