penalty imposable in the case of a registered firm

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..... n consultation with Ministry of Law. 2. Section 271(1)(c) requires imposition of penalty with reference to tax that would have been avoided if the income as returned by such person has been accepted, while section 271(2) provides that penalty imposable in the case of a registered firm will be the same as if it was an unregistered firm. The legal fiction as a registered firm being treated as an u .....

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