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1990 (7) TMI 1 - SC - Income TaxWhether Tribunal was right in cancelling the penalty levied u/s 271 ( 1 ) (c) - Whether having regard to the provisions of Explanation to section 271 (1) (c) the Appellate Tribunal s cancellation of penalty is sustainable in law and on the materials on record -Whether Tribunal s view that the addition of Rs. 18, 750 did not represent the concealed income of the assessee is based on valid and relevant consideration and is a reasonable view to take on the facts of this case
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