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1996 (8) TMI 498 - PUNJAB HIGH COURTExtract: .......of a huge demand of interest and penalty amounting to Rs. 7,66,422. In the result, the writ petition succeeds and the orders levying interest and imposing penalty for the second and third quarters of the assessment year 1995-96 are quashed. The respondents shall pay a sum of Rs. 5,000 to the petitionercompany by way of costs. Writ petition allowed.
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