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2006 (8) TMI 642 - GUJARAT HIGH COURTExtract: .......ppellant has filed return showing loss and the income is also assessed as “NIL Income”. When the return was shown as loss as well as the assessment of income is also NIL, no penalty under Section 271(1)(C) of the Income-tax Act is attracted. No case is made out for admission of the appeal. The appeal stands dismissed at admission stage.
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