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1999 (9) TMI 8 - HC - Income TaxExtract: .......n of that money and ultimately has offered the amount for taxation. The Tribunal was also not justified in law in holding that Explanation 5 to section 271(1)(c) would not apply to a proceeding under section 132A, in view of the legal position explained above. Accordingly, the reference is answered in favour of the Revenue and against the assessee.
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