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1998 (8) TMI 151 - AT - Income TaxExtract: .......kept clear and pure. 9. In the light of above discussion, we hold that the value of work-in-progress does not constitute Turnover as used in section 44AB of the Income-tax Act. Accordingly, we uphold the finding of the learned CIT(A). Thus, there is no justification for the impugned penalty of Rs. 38,850. 10. In the result, the appeal is dismissed.
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