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1995 (2) TMI 92 - AT - Income TaxExtract: .......year 1976-77 certainly constitutes the offence of concealment of his income as contemplated under section 271(1)(c). The assessee should, therefore, suffer the penal consequences. Hence, we reverse the decision of the CIT (Appeals) and order for restoration of the penalty as imposed by the ITO. 14. In the result, the departmental appeal is allowed.
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