ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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newspapers, it appears, the tax authorities had reopened the tax assessment of Biju Patnaik for the year 1957-58 on the ground that he had concealed material facts relating to his income of the year 1956-57 as a result of which capital gain of Rs 15 lakh had escaped taxation. The gain had apparently resulted from the transfer of goodwill of a proprietary mining business to a corporate entity.

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