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1978 (9) TMI 47 - HC - Income TaxExtract: ....... it is not open to the courts to indulge in any such exercise. We, therefore, hold that the penalty payable under an order made pursuant to s. 271 (1)(a) of the I.T. Act, is not deductible under r. 2(i) of the First Schedule to the Act. The question referred to us is, therefore, answered in the affirmative and in favour of the department. No costs.
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