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Penalty proceedings for partners should await firm assessment results to ensure adoption of correct share income and prevent revenue loss. Assessing officers must, insofar as practicable, adopt the correct share income from a firm's completed assessment before finalising penalty proceedings against partners; large firm assessments should be expedited and particulars of partner shares communicated promptly to prevent premature penalty levies that may cause revenue loss and adverse audit criticism.
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Provisions expressly mentioned in the judgment/order text.
Penalty proceedings for partners should await firm assessment results to ensure adoption of correct share income and prevent revenue loss.
Assessing officers must, insofar as practicable, adopt the correct share income from a firm's completed assessment before finalising penalty proceedings against partners; large firm assessments should be expedited and particulars of partner shares communicated promptly to prevent premature penalty levies that may cause revenue loss and adverse audit criticism.
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