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1996 (4) TMI 426 - SUPREME COURTWhether the levy of penalty under section 14(3) of the Act is sustainable in the facts of this case or not? Held that:- With respect to the assessment year 1973-74, the High Court has dismissed the tax revision case filed by the assessee on the ground that the assessment in that case was a best judgment assessment inasmuch as the Commercial Tax Officer had added a sum of rupees three thousand and odd to figure disclosed in the return. We see no reason to differ from the opinion of the High Court in the facts and circumstances of the case to the extent of the said assessment year.
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