https://www.taxtmi.com/caselaws?id=68279 Penalty under section 158BFA(2) requires affirmative establishment of concealment or suppression of income intended to avoid tax; it does not follow automatically from an addition sustained in block assessment. Additions concerning stock, jewellery and trade debtors were substantially estimated, while the surcharge component had already been deleted in appellate proceedings. In the absence of a positive finding of concealment or suppression, penalty was not leviable, and deletion of the penalty was retained. en-us Fri, 26 Oct 2007 00:00:00 +0530 Tue, 30 Jan 2024 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68279 Penalty under section 158BFA(2) requires affirmative establishment of concealment or suppression of income intended to avoid tax; it does not follow automatically from an addition sustained in block assessment. Additions concerning stock, jewellery and trade debtors were substantially estimated, while the surcharge component had already been deleted in appellate proceedings. In the absence of a positive finding of concealment or suppression, penalty was not leviable, and deletion of the penalty was retained. Case-Laws Income Tax Fri, 26 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68279