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1990 (8) TMI 104 - HC - Income TaxExtract: .......reason is brought to our notice to disturb the said findings of the Tribunal. Once the said findings stand, in our opinion, the levy of penalty under section 271 (1) (c) of the Act is not valid. Accordingly, we answer the two questions referred in the affirmative, i.e., in favour of the assessee and against the Department with no order as to costs.
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