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1982 (6) TMI 101 - AT - Income TaxExtract: .......sessment proceedings were concealed income and could warrant levy of penalty under s. 271(1)(c). Despite Explanation according to us, no penalty could be called for in the instant case and in the light of above discussion and for the reasons given by the AAC in his order, his action is confirmed. 9. In the result, the Revenue s appeal is dismissed.
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