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2004 (4) TMI 31 - PUNJAB AND HARYANA HIGH COURTPenalty u/s 271(1)(c) - "Whether Tribunal is right in holding that penalty is not exigible where loss is reduced resulting in the net assessed loss in spite of the fact that positive concealment was detected or the assessee had furnished deliberately inaccurate particulars to evade the tax?" - Penalty cancelled on the ground that since there was no positive income assessed, it could not be said that any tax was sought to be evaded. – No infirmity in tribunal’s order – revenue’s appeal dismissed
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