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1962 (10) TMI 48 - SC - Income TaxWhether an opportunity had to be given to the appellants as required by the proviso to section 35 to show cause against the demand for penal interest? Held that:- Appeal allowed. The word "assessment" is used in the proviso not as an equivalent of the tax calculated at the rate given in the Finance Act but the total amount which the assessee is required to pay. The proviso applies whenever the effect of the order is to touch the pocket of the assessee and in our opinion this was such a case.
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