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2005 (3) TMI 86 - HC - Income TaxLevy of penalty of Rs. 18,000 under section 271(1)(c) - addition of Rs. 30,000 as concealed income - income from undisclosed source - once the explanation offered by the assessee is rejected then in that event, a case for imposition of penalty under section 271(1)(c) is made out. - Tribunal seems justified in upholding the penalty under section 271(1)(c)
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