Levy of penalty - the assesse's stand that they were under a bonafide belief that no tax liability would...

Levy of penalty - the assesse's stand that they were under a bonafide belief that no tax liability would fall upon them as the same stands discharged by the sub-contractor is required to be appreciated in which case, the provisions of section 80 of the Finance Act, 1994 would get invoked – no penalty - AT .....

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