Penalty in respect of certain income.

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Full Text of the Document

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....year includes any income referred to in section 102, 103, 104, 105 or 106. (2) The penalty under sub-section (1) shall be payable in addition to the tax payable under section 195. (3) No penalty shall be levied on income referred to in section 102, 103, 104, 105 or 106 to the extent such income has been included by the assessee in the return of income furnished under section 263 and the tax ....