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2005 (3) TMI 71 - HC - Income TaxPenalty u/s 271(1)(c) - a loss return was shown by reason of the alleged concealment. The loss remained static and there was no change on the loss - If a loss is shown and no tax is payable on account of alleged furnishing of inaccurate particulars of income, in that event, no penalty could be imposed in the absence of the unit on the basis of which the penalty can be imposed in terms of section 271(1)(c)(iii) - No substantial question of law is involved. The appeal by revenue is, therefore, dismissed.
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