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2015 (10) TMI 2164 - AT - Income TaxPenalty u/s. 271(1)(c) - validity - Held that:- In view of the fact that notice u/s. 274 of the Act in the present case does not make any reference as to whether the assessee has concealed or furnished inaccurate particulars of income, the entire penalty proceedings are held to be invalid. Penalty imposed is accordingly cancelled. - Decided in favour of assessee.
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