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2013 (1) TMI 97 - HC - Income TaxPenalty u/s 271(1)(c) - Concealment of income - Evasion of Tax - Whether penalty u/s 271(1)(c) can be levied even when after disallowing certain sum while computing income as per the P&L account, the same had no impact on the tax liability of the assessee - Held that:- It was held that even after such disallowance, tax finally required to be paid, as per Section 115 JB of the Act, would remain the same. It cannot be stated that the assessee evaded tax. In favour of assessee
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