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1997 (12) TMI 88 - HC - Income TaxExtract: .......iew of this reference. We, therefore, find that the Tribunal was not correct in cancelling the penalty order passed under section 271(1)(c) of the Act. For the foregoing reasons, therefore, we answer question No. 1 in the affirmative and in favour of the Revenue. Similarly, we answer question No. 2 in the negative and also in favour of the Revenue.
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