2 results for “disallowance”+ Section 42(1)(b)clear
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42,728/- and Rs. 19,443/- which were voluntarily paid by the assessee on account of duty on handling charges and differential duty. It is clarified that the amount of penalty in (iii) above shall be reduced to 25% thereof if the assessee deposits the amounts of the duty, interest and penalty, determined vide this order within 30 days from