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2010 (10) TMI 297 - ITAT ALLAHABADSearch - Block Assessment - Undisclosed income - Penalty u/s 158BFA - Hon'ble Calcutta High Court in the case of Nawn Estates (P.) Ltd. v. CIT [1974 -TMI - 39107] (Cal.) held that unless the tax is quantified and determined, the penalty cannot be made and that it is conclusive that assessment proceedings must precede penalty proceedings - Accordingly the appeal is allowed
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