1976 (10) TMI 10

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..... come for the assessment year 1959-60 on April 7, 1961, though it was due to be submitted on September 30, 1959. The Income-tax Officer imposed a penalty of Rs. 18,702 under section 271(1)(a) of the Income-tax Act. The Appellate Assistant Commissioner and the Tribunal confirmed the levy of penalty. The question referred to us is, whether, on the facts and in the circumstances of the case, the penal .....

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