https://www.taxtmi.com/caselaws?id=75903 SC held that penalty under s.271(1)(c) is leviable even where final assessed income is a loss if concealed income additions reduce a returned loss or remain chargeable as tax on concealed income, applicable for the period 1.4.1976-1.4.2003. The Court confirmed earlier precedent and noted CBDT clarification that tax sought to be evaded is tax on the concealed income as if it were total income. SC also reiterated mandatory guidelines for clarity and adequacy in judicial judgments and orders. en-us Fri, 07 May 2010 00:00:00 +0530 Fri, 29 Aug 2025 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75903 SC held that penalty under s.271(1)(c) is leviable even where final assessed income is a loss if concealed income additions reduce a returned loss or remain chargeable as tax on concealed income, applicable for the period 1.4.1976-1.4.2003. The Court confirmed earlier precedent and noted CBDT clarification that tax sought to be evaded is tax on the concealed income as if it were total income. SC also reiterated mandatory guidelines for clarity and adequacy in judicial judgments and orders. Case-Laws Income Tax Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75903