https://www.taxtmi.com/caselaws?id=176073 Penalty under section 28(1)(b) presupposes that a return has been furnished, because the clause is quantified by reference to the income returned and the tax avoided on acceptance of that return. Where no return is filed at all, that basis is absent and a fictional nil return cannot be assumed for penalty purposes. In such a situation, the proper penalty is for failure to furnish the return under section 28(1)(a) only, and not an additional penalty under section 28(1)(b) for non-compliance with the notice requiring production of accounts or evidence. en-us Wed, 30 Nov 1960 00:00:00 +0530 Fri, 11 Dec 2015 15:26:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176073 Penalty under section 28(1)(b) presupposes that a return has been furnished, because the clause is quantified by reference to the income returned and the tax avoided on acceptance of that return. Where no return is filed at all, that basis is absent and a fictional nil return cannot be assumed for penalty purposes. In such a situation, the proper penalty is for failure to furnish the return under section 28(1)(a) only, and not an additional penalty under section 28(1)(b) for non-compliance with the notice requiring production of accounts or evidence. Case-Laws Income Tax Wed, 30 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176073