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1982 (8) TMI 14 - HC - Income TaxExtract: .......olding that the imposition of penalty of Rs. 25,000 under s. 271(1)(c) of the I.T. Act, 1961, for the assessment year 1970-71 was justified. This question is, therefore, answered in the affirmative and in favour of the Revenue. In the facts and circumstances of the case, the parties will pay and bear their own costs. SABYASACHI MUKHARJI J.-I agree.
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