https://www.taxtmi.com/caselaws?id=178423 The Tribunal dismissed the Revenue's appeals and partly allowed the assessees' appeals, directing the Assessing Officer to recompute the penalty under section 271(1)(c) at the minimum rate for the amounts deemed to be concealed income. The Tribunal held that the assessees were deemed to have concealed their income to the extent of the amounts specified in their declarations during the search. en-us Mon, 19 Feb 2001 00:00:00 +0530 Thu, 04 Feb 2016 14:33:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178423 The Tribunal dismissed the Revenue's appeals and partly allowed the assessees' appeals, directing the Assessing Officer to recompute the penalty under section 271(1)(c) at the minimum rate for the amounts deemed to be concealed income. The Tribunal held that the assessees were deemed to have concealed their income to the extent of the amounts specified in their declarations during the search. Case-Laws Income Tax Mon, 19 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178423