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1986 (9) TMI 422
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....er the following question of law namely : "Whether on the facts and in the circumstances of the case the Tribunal was right in cancelling the penalty under s. 271(1)(c) on the ground that the IAC did not have jurisdiction to levy the penalty on 1-5-1978 ?" 2. The above question arose on the basis of entry of Rs. 1,00,000 received by the assessee which was initially held to be a part of....