Taxpayer Faces Penalty u/s 12-B(4) for Tax Discrepancy; High Court Urges Revisional Authority to Correct Errors.

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....Difference between tax due after final assessment and advance tax paid by the assessee - penalty u/s Section 12-B(4) - Revisional Authority was duty bound to interfere with such erroneous order which was prejudicial to the interest of the Revenue - HC....