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1988 (11) TMI 73 - BOMBAY HIGH COURTExtract: .......re, be held that the levy of penal interest on the basis of registered firm was a mistake apparent, obvious and glaring so as to give the Income-tax Officer jurisdiction under section 154 to rectify the mistake. The order of the Tribunal is confirmed and the questions are answered in the negative and in favour of the assessee. No order as to costs.
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