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1979 (12) TMI 96 - AT - Income TaxExtract: .......or wilful neglect and penalty was held to be exigible because all the purchases had not been accounted for and there were numerous discrepancies in the accounts. Since I am holding that no penalty is exigible in this case, the ratio of the judgment in the case of Brij Mohan vs. CIT(7) will not be applicable. 6. In the result, the appeal is allowed.
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