No Penalty for Form Omission if Transactions Documented; No Intent to Evade Tax, Authority Lacks Power to Penalize.

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....Penalty - mere a technical omission or violation of law would not empower the authority to impose penalty - since there is only a technical defect of non-submission of form, while the entire transactions are reflected in the book of accounts submitted voluntarily to the dept. - there was no intention to evade tax hence no penalty....