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1989 (1) TMI 81 - HC - Wealth-taxExtract: .......sset attracting the levy of penalty under section 18(1)(c) of the Act. We hold that the Tribunal was right in the view it took that no case is made out for the levy of penalty. We, therefore, answer the questions referred in the affirmative and against the Revenue. The assessee will be entitled to the costs of this reference. Counsel s fee Rs. 500.
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