1980 (4) TMI 150

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....n order. The assessee is an individual. The relevant asst. yr. is 1975-76. For the accounting period which was Bengali year, the assessee was liable to pay a certain compulsory amount by 15th March, 1975 under the provisions of the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974. Since this was paid on 17th March, 1975 the ITO initiated penalty proceedings and imposed penalty under s. 10 o....