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Court Affirms Substantial Compliance for Tax Benefits: No Formal Application Needed if No Specific Form Prescribed u/rs.
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....Principles of 'Substantial Compliance' or 'Substantial Justice' - Benefit of compounded rate of tax - Merely lapse of making a formal application, though no such form is prescribed under the Rules, cannot be said to be fatal to apply Section 6 of the Act to the Assessee in the present case....