Penalties not applicable to sole proprietorship per Bombay HC ruling

The Bombay HC dismissed the appeal, ruling that penalties were not applicable to a sole proprietary concern, and the sole proprietor was not required to pay penalties separately. This decision was influenced by a precedent involving Gyanchand Jain.

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The Bombay High Court dismissed the appeal as the penalties were set aside for a sole proprietary concern, stating that the sole proprietor need not pay penalty separately. The decision was based on a similar case involving Gyanchand Jain.

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