1976 (11) TMI 31

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....ibunal to state a case arises out of penalty proceedings. The submission of Shri Bhagirath Dass, learned counsel for the assessee, is that, apart from the finding that the loss as claimed by the assessee was not true, there was no additional material before the Tribunal to conclude that any amount represented the income of the assessee. He submits that no additional reasons have been given in the ....