2012 (3) TMI 476

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....ing the levy of penalty of Rs. 21,000/- relating to assessment year 2006-07. 2. In this case the return was filed declaring income of Rs. 2,99,930/-. Assessment was completed determining the total income at Rs. 4,22,547/-. During the assessment proceedings, it was seen that a survey under section 133A was carried out at the business premises of the assessee on 22.12.2005. As per physical verifi....