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<h1>Department's appeal on penalty for income concealment partially allowed; penalty reduced to Rs. 5,000.</h1> The Department's appeal against a penalty of Rs. 15,000 for income concealment in the assessment year 1974-75 was partially allowed. The Appellate ... - The Department appealed a penalty of Rs. 15,000 for income concealment in the asst. yr. 1974-75. The AAC reduced it to Rs. 3,000. The Tribunal found concealed income to be Rs. 5,000, reducing the penalty to Rs. 5,000. Departmental appeal partly allowed, assessee's cross objection dismissed.
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