https://www.taxtmi.com/caselaws?id=182109 Whether the Tribunal erred in sustaining penalties under section 28 was answered by applying the principle that penalty liability requires a specific finding of deliberate concealment and computation of penalty with reference to tax avoided by that concealment. An assessment addition, including estimation, is material but not conclusive on deliberateness; the authority imposing penalty must determine extent of deliberate concealment on available material. The Appellate Assistant Commissioner re examined and reduced the quantum of deliberate concealment; the Tribunal misdirected in holding the AAC lacked competence. The AAC's reduction of penalties was upheld in favour of the assessee. en-us Thu, 18 Feb 1965 00:00:00 +0530 Tue, 03 May 2016 10:06:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182109 Whether the Tribunal erred in sustaining penalties under section 28 was answered by applying the principle that penalty liability requires a specific finding of deliberate concealment and computation of penalty with reference to tax avoided by that concealment. An assessment addition, including estimation, is material but not conclusive on deliberateness; the authority imposing penalty must determine extent of deliberate concealment on available material. The Appellate Assistant Commissioner re examined and reduced the quantum of deliberate concealment; the Tribunal misdirected in holding the AAC lacked competence. The AAC's reduction of penalties was upheld in favour of the assessee. Case-Laws Income Tax Thu, 18 Feb 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182109