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2006 (10) TMI 180 - AT - Income TaxExtract: .......d. Therefore, as per Expln. 1 Part A, the assessee shall be deemed to have concealed the particulars of income of Rs. 87,500. We, therefore, uphold the levy of penalty for concealment of income in respect of addition of Rs. 87,500 and direct the AO to recompute the penalty on the above amount. 18. In the result, assessee s appeal is partly allowed.
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