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Charge of additional tax for failure to pay tax with the return

Where any assessee fails to pay tax under section 54 or the tax so paid is less than the tax payable under that section, he shall be liable to pay additional tax at the rate of [twenty-four] per cent per annum on the amount not paid or the amount by which the tax paid by him falls short of the tax payable under that section, as the case may be,...


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