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1984 (6) TMI 107 - ITAT DELHI-BExtract: ......., the presumption of concealment of income had been duly rebutted. Therefore, it was not a case in which any penalty could have been imposed or sustained against the assessee. We hold accordingly. 11. The appeal is allowed and the penalty of Rs. 1,24,721 is cancelled. The stay petition filed by the assessee, having become infructuous, is dismissed.
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