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1995 (4) TMI 91 - AT - Income TaxExtract: ....... the reason why book results were rejected and the rate of 10 adopted. It is not a case where any income was detected from the books or from any other material on record. In these circumstances, it is only suspicion on which the concealment charge is based. Therefore, both the penalties are deleted. 7. In the result, both the appeals stand allowed.
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