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1981 (2) TMI 122 - ITAT DELHI-EExtract: .......luation was handed over to the Valuation Officer and by filing the revised returns for both the years. 8. For the aforesaid reason we hold that no penalty is exigible in this case either under s. 18(1)(c) or under s. 18(1)(c) r/w the Explanation thereto. The penalties levied are, therefore, cancelled. 9. In the result, both the appeals are allowed.
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