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1980 (6) TMI 69 - ITAT HYDERABAD-AExtract: ....... the reasons for the relevant asst. yr. 1973-74. For the detailed reasons set out in the earlier portion of this order for the asst. yr. 1972-73, we see no justification for the levy of penalty. We, therefore, quash the order of penalty and direct the ITO to refund the amount, if collected from the assessee. 8. In the result, the appeal is allowed.
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