1998 (1) TMI 7

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....rish Chandra ( K. N. Nagpal and B. K. Prasad, Advocates JUDGMENT In these appeals the question involved relates to the interpretation of the Expln. to s. 271(1)(c) of the IT Act for the purpose of levying penalty on the concealed income. The High Court, on a reference having been made, has come to the conclusion that as the difference between the income assessed and the income returned was m....