1975 (1) TMI 40

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....g the penalty levied by the ITO under s. 271(1)(a). 2. Shri C.P. Moidu and Shri P. Abdulla were found in possession of more than Rs. 6 lakhs in cash in a jeep in which they were travelling. The Central Excise authorities seized this amount and kept it in custody with them pending enquiries. The ITO coming to know of the seizure started investigation and made assessment on these two persons in t....