Revised return does not erase deliberate concealment for penalty purposes; original return remains decisive.

A revised return can correct accidental omissions or bona fide mistakes, but it does not wipe out a deliberate concealment made in the original return. Penalty under section 28(1)(c) depends on whether the assessee concealed particulars of income or deliberately furnished inaccurate particulars, and that inquiry is made with reference to the original return. The fact that assessment was completed on a higher or revised figure, or under the proviso to section 13, does not by itself prevent penalty where deliberate concealment is found. The revised return therefore did not absolve the assessee from penalty, and the reference was answered against the assessee.

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Issues: Whether a revised return filed before assessment wipes out a deliberate concealment in the original return so as to exclude penalty under section 28(1)(c) of the Income-tax Act, 1922.

Analysis: A revised return may correct accidental omissions or bona fide mistakes, but it does not erase the legal consequences of a deliberate concealment made in the original return. The liability to penalty depends on whether the assessee had concealed particulars of income or deliberately furnished inaccurate particulars, and that question is determined with reference to the original return. The fact that the assessment was ultimately made on a higher or revised figure, or under the proviso to section 13, does not affect the applicability of the penalty provision where deliberate concealment is found.

Conclusion: The filing of a revised return did not absolve the assessee from penalty under section 28(1)(c); the reference was answered against the assessee.

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