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1985 (7) TMI 184 - ITAT MADRAS-CExtract: .......se and the explanation offered by the assessee, we are of the opinion that the AAC was quite correct and reasonable in cancelling the penalty levied under s. 271(1)(c). In that view of the matter, we confirm the order passed by the AAC and dismiss the appeal filed by the Department. 4. In the result, the appeal filed by the Department is dismissed.
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