https://www.taxtmi.com/caselaws?id=178100 The Lahore High Court construed "income" in Section 28 of the Income-tax Act, 1922 in its technical, assessable sense, not its narrow popular meaning. It held that the statutory scheme for computation of total income, returns, assessment and tax payable requires consideration of allowable deductions and exemptions when determining true taxable income. On that basis, a deliberate false claim relating to deductions or exemptions was treated as falling within the penalty provision for concealment or furnishing inaccurate particulars. A construction limited to money actually received would undermine the purpose of the penal provision by permitting false deduction claims to escape liability. en-us Thu, 05 May 1938 00:00:00 +0530 Thu, 28 Jan 2016 11:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178100 The Lahore High Court construed "income" in Section 28 of the Income-tax Act, 1922 in its technical, assessable sense, not its narrow popular meaning. It held that the statutory scheme for computation of total income, returns, assessment and tax payable requires consideration of allowable deductions and exemptions when determining true taxable income. On that basis, a deliberate false claim relating to deductions or exemptions was treated as falling within the penalty provision for concealment or furnishing inaccurate particulars. A construction limited to money actually received would undermine the purpose of the penal provision by permitting false deduction claims to escape liability. Case-Laws Income Tax Thu, 05 May 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178100