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1988 (6) TMI 72 - AT - Income TaxExtract: .......income of Rs. 26,160, the assessee had concealed the particulars thereof. Therefore, penalty could properly be levied on the assessee. 12. In view of our finding that the levy of penalty is invalid, the assessee s appeal deserves to be allowed. The appeal, is, accordingly, allowed. The penalty levied on the assessee under s. 271(1)(c) is cancelled.
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