1989 (1) TMI 50

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..... facts and in the circumstances of the case, the Appellate Tribunal was right in holding that when reference under section 274(2) read with section 271(1)(c) of the Income-tax Act, 1961, had been made on November 25, 1975, the Inspecting Assistant Commissioner was vested with valid jurisdiction for imposing penalty under section 271(1)(c) even when sub-section (2) of section 274 came to be omitted .....

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