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1981 (11) TMI 10 - HC - Income TaxExtract: .......y of penalty on the facts here. When the amounts were not liable to be taxed, there could be no levy of penalty for their omission from the return. The question relating to penalty is also answered in the affirmative and in favour of the assessee. The assessee will be entitled to its costs. Counsel s fee Rs. 500 (rupees five hundred only). One set.
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