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1983 (3) TMI 107 - ITAT COCHINExtract: .......untant in such matters. We do not, therefore, see any reason why the explanation offered by the assessee should be rejected. We are satisfied that the assessee had reasonable cause for not filing the return before 21st December 1978. No penalty is, therefore, exigible on the facts of the case. We accordingly allow the appeal and cancel the penalty.
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