https://www.taxtmi.com/caselaws?id=66078 The quantum appeal was partially allowed, with adjustments made to the income assessment. The penalty appeal was fully allowed, with the penalty for concealment of income deleted due to the assessed loss. The Tribunal directed the Income-tax Officer to verify the reconciliation statement and make necessary adjustments. en-us Tue, 15 Nov 1994 00:00:00 +0530 Mon, 21 Feb 2011 13:00:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66078 The quantum appeal was partially allowed, with adjustments made to the income assessment. The penalty appeal was fully allowed, with the penalty for concealment of income deleted due to the assessed loss. The Tribunal directed the Income-tax Officer to verify the reconciliation statement and make necessary adjustments. Case-Laws Income Tax Tue, 15 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66078