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2006 (8) TMI 175 - HC - Income TaxEffect of insertion of explanation 1 to section 271(1) (c) - In the penalty proceedings itself, the assessee can explain his bona fides and show that all the facts relating to the same and material to the computation of his total income had been disclosed by him- Tribunal was not justified in holding that the onus is on the Revenue to prove mens rea - no separate enquiry is necessary before imposing the penalty – case remanded to tribunal with a direction to pass fresh order
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