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1988 (2) TMI 59 - HC - Income TaxExtract: .......ablish concealment of income warranting levy of penalty under section 271(1)(c) of the Act. We, therefore, answer question No. 1 in the negative, i.e., in favour of the assessee and against the Revenue. In the view that we have taken on question No. 1, it is not necessary to deal with question No. 2. The reference is answered accordingly. No costs.
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