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Immunity Granted from Penalty u/s 271(1)(c) Due to Lack of Proven Default and Time Limit in Section 132(4).
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....Penalty u/s 271(1)(c) - ince Clause (2) did not prescribe the time limit within which the assessee should pay tax on income disclosed in the statement under Section 132(4) no default proved - immunity from penalty granted - SC....
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