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1985 (5) TMI 7 - PATNA HIGH COURTExtract: .......n to levy penalty in view of the amended provision of section 274 of the Act. The Inspecting Assistant Commissioner was fully within his powers to impose such a penalty. For the reasons stated above, the reference may be answered in favour of the Revenue and against the assessee. In the circumstances of the case, there will be no order as to costs.
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