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1983 (3) TMI 105 - ITAT COCHINExtract: .......able to file the return. The explanation in the circumstances of the case is acceptable. We are satisfied that the assessee has shown reasonable cause for the default. There was, therefore, no justification for levying any penalty. We accordingly cancel the penalty levied by the ITO and confirmed by the AAC. 5. In the result, the appeal is allowed.
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