https://www.taxtmi.com/caselaws?id=218886 The Tribunal partially allowed the appeal, reducing the penalty amount to be levied only on the concealed income of Rs.5,00,000. The Tribunal directed the Assessing Officer to rework the penalty accordingly, maintaining the penalty but adjusting the amount subject to penalty, considering the circumstances of the case and the tax deducted at the source. en-us Wed, 25 Jul 2012 00:00:00 +0530 Fri, 12 Oct 2012 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218886 The Tribunal partially allowed the appeal, reducing the penalty amount to be levied only on the concealed income of Rs.5,00,000. The Tribunal directed the Assessing Officer to rework the penalty accordingly, maintaining the penalty but adjusting the amount subject to penalty, considering the circumstances of the case and the tax deducted at the source. Case-Laws Income Tax Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218886