https://www.taxtmi.com/caselaws?id=180216 Penalty proceedings under income-tax law are distinct from assessment proceedings and are quasi-criminal, so an earlier assessment finding is only evidence and not conclusive in a concealment penalty case. The department must prove conscious concealment of income or deliberate furnishing of inaccurate particulars, and the Tribunal may independently reappreciate the evidence and differ from the Income-tax Officer. In reference jurisdiction, the High Court will not re-weigh the evidence unless the Tribunal's finding is unsupported by evidence or perverse. Applying these principles, the Tribunal's setting aside of the concealment penalty was upheld and the reference was answered in favour of the assessee. en-us Wed, 17 Dec 1975 00:00:00 +0530 Sat, 25 Mar 2017 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180216 Penalty proceedings under income-tax law are distinct from assessment proceedings and are quasi-criminal, so an earlier assessment finding is only evidence and not conclusive in a concealment penalty case. The department must prove conscious concealment of income or deliberate furnishing of inaccurate particulars, and the Tribunal may independently reappreciate the evidence and differ from the Income-tax Officer. In reference jurisdiction, the High Court will not re-weigh the evidence unless the Tribunal's finding is unsupported by evidence or perverse. Applying these principles, the Tribunal's setting aside of the concealment penalty was upheld and the reference was answered in favour of the assessee. Case-Laws Income Tax Wed, 17 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180216