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1991 (8) TMI 13 - HC - Income Tax
Extract:
.......f the above finding, question No. 2 need not be answered. In the result, we answer the first question in favour of the Department and against the assessee that the Tribunal was not justified in cancelling the penalty levied under the Explanation to section 271(1)(c) of the Income-tax Act. The reference is answered accordingly. No order as to costs.