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1997 (3) TMI 25 - MADRAS HIGH COURTExtract: .......rtment, it cannot be said that there is any concealment with regard to capital gains. In view of this factual position, we consider that the Tribunal was correct in deleting the penalty of Rs. 25,000 levied under section 271(1)(c) of the Act. Accordingly, we answer the question referred to us in the affirmative and against the Department. No costs.
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