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1980 (10) TMI 36 - HC - Income Tax
Extract:
.......cealed by the assessee. The Tribunal was, therefore, right in holding that the income concealed was Rs. 50,000 and not Rs. 2,50,000 and was justified in reducing the quantum of penalty from Rs. 2,50,000 to Rs. 50,000. We answer the question in the affirmative and in favour of the assessee. Costs will be borne by the revenue. Advocate s fee Rs. 150.