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1993 (9) TMI 66 - HC - Income TaxExtract: .......able only in regular assessment, the same could not be applied to reassessment proceedings under section 147 of the Act. Consequently, the question referred is answered in favour of the assessee and against the Revenue by holding that no penal action can be taken in the course of reassessment. The assessee would be entitled to get costs of Rs. 400.
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