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1978 (2) TMI 129 - ITAT MADRAS-BExtract: .......e instant case, the assessee merely questions the quantum of penal interest. In view of the above we hold that the AAC was not justified in directing the interest under s. 217 should be charged only for one year. We delete such directions. 14. In the result, I.T.A. Nos. 1077 and 1078/76-77 are allowed in part and I.T.A. No. 1512/76-77 is dismissed.
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