https://www.taxtmi.com/caselaws?id=78023 HC held that penalty under s.271(1)(c) could not be imposed where income was assessed under s.115JB (MAT) and not under normal provisions. Although there was concealment of particulars, assessment proceeded on deemed book profit under s.115JB, which produced a higher taxable income and tax was paid accordingly; the concealment therefore did not affect the amount of tax sought to be evaded. Because the misstatement had no bearing on tax liability under the MAT assessment, the concealment did not amount to tax evasion and penalty was not warranted. en-us Thu, 26 Aug 2010 00:00:00 +0530 Thu, 18 Jun 2026 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78023 HC held that penalty under s.271(1)(c) could not be imposed where income was assessed under s.115JB (MAT) and not under normal provisions. Although there was concealment of particulars, assessment proceeded on deemed book profit under s.115JB, which produced a higher taxable income and tax was paid accordingly; the concealment therefore did not affect the amount of tax sought to be evaded. Because the misstatement had no bearing on tax liability under the MAT assessment, the concealment did not amount to tax evasion and penalty was not warranted. Case-Laws Income Tax Thu, 26 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78023