https://www.taxtmi.com/caselaws?id=69374 Penalty for concealment was held unsustainable where the underlying addition rested on estimated construction cost rather than conclusive proof of hidden income. The variation between the valuer's report and the estimates adopted at different stages weakened any inference of deliberate concealment, and an estimated addition alone was insufficient to support penalty under section 271(1)(c). On these facts, cancellation of the penalty was upheld in favour of the assessee. en-us Tue, 07 Aug 1984 00:00:00 +0530 Wed, 06 Apr 2011 14:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69374 Penalty for concealment was held unsustainable where the underlying addition rested on estimated construction cost rather than conclusive proof of hidden income. The variation between the valuer's report and the estimates adopted at different stages weakened any inference of deliberate concealment, and an estimated addition alone was insufficient to support penalty under section 271(1)(c). On these facts, cancellation of the penalty was upheld in favour of the assessee. Case-Laws Income Tax Tue, 07 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69374