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1988 (12) TMI 135 - ITAT BOMBAY-AExtract: .......ttract the penal provision under s. 273(2)(a). This is because at the time of estimate the assessee did not know or had reason to believe that the estimate which the assessee made was untrue. We, accordingly hold that provisions of s. 273(2)(a) were not attracted in the present case. We cancel the order of penalty. 17. Both the appeals are allowed.
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