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2005 (12) TMI 248 - ITAT MADRAS-AExtract: .......ate argument of the learned counsel for the assessee that penalty should be restricted to the minimum, Assessing Officer is required to find out the net tax to be evaded by reason of the concealment. We direct him to levy the minimum penalty after making the correct calculation of tax. 21. In the result, appeal of the Revenue stands partly allowed.
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