Supreme Court upholds penalty, no prosecution, Civil Appeals dismissed

The Supreme Court upheld the penalty imposed on the assessee by the Tribunal but directed that no prosecution should be initiated against the assessee to resolve the difference of opinion. Civil Appeals were dismissed.

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The Supreme Court upheld the penalty imposed on the assessee by the Tribunal. However, to resolve the difference of opinion, the Court directed that no prosecution should be initiated against the assessee. Civil Appeals were dismissed. (Case Citation: 1996 (3) TMI 135 - SC)

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