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COMMISSIONER OF INCOME-TAX versus POPULAR JEWELLERS


Referral Penalty Income Penalty There is no claim to be placed in a criminal proceeding on the basis of increase in income based on the increase in income, the fact that the reference was pending in quantum proceedings justified the termination of the penalty. Question No The request for reference under section 256 (2) born of his order cannot be dismissed merely because it was in the interest of the Income Tax Act 1961, Sections 256 and 271 of the Income Tax Act.

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