Penalty for concealment of chargeable expenditure: authorities may impose a proportional penalty and require higher approval for large cases.

Where the Assessing Officer or the Commissioner (Appeals) is satisfied that a person has concealed particulars of chargeable expenditure or furnished inaccurate particulars, they may direct payment of a penalty, additional to any expenditure-tax, of not less than but up to twice the amount of tax sought to be evaded; if the chargeable expenditure so determined exceeds twenty-five thousand rupees, the Assessing Officer must obtain the previous approval of the Additional Commissioner or the Deputy Commissioner before issuing a penalty direction.

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