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1978 (3) TMI 123 - ITAT DELHI-CExtract: .......as been considered to be unsatisfactory and the evidence produced by the assessee as insufficient to prove the genuineness of the credit. On such facts, penalty cannot be levied because there is not material to hold that the assessee has concealed any income. For these reasons, I cancel the impugned penalty. 4. In the result, the appeal is allowed.
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