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1987 (10) TMI 40 - HC - Income TaxExtract: .......e Tribunal did not levy penalty on the finding recorded in the assessment proceedings. Question No. (5), no doubt, is worded as a question of law. But it cannot be taken in isolation. Since, on facts, penalty was not leviable, the question does not arise. In the result, the application fails and is rejected. But there shall be no order as to costs.
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