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2002 (2) TMI 70 - HC - Income TaxExtract: .......y would have to be recalculated in the light of the fresh assessment by the Assessing Officer. In that view, it will have to be held that the Appellate Tribunal was right in law in directing the recalculation of the penalty under section 18(1)(a) of the Wealth-tax Act, 1957. The reference is therefore answered accordingly in favour of the assessee.
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