https://www.taxtmi.com/caselaws?id=189055 The court addressed whether an assessment finding that a Rs. 48,000 credit constituted income not disclosed in the return constituted material to establish concealment under section 28(1)(c), and whether a penalty could lawfully follow. It held that the assessment finding is relevant material capable of sustaining a concealment finding (legal question as to existence of evidence) and, because the penalty proceedings contained no successful rebuttal, the decision to impose penalty was supportable (fact and discretion issue). Outcome: material supported concealment and justified imposition of penalty on that material. en-us Thu, 06 Aug 1964 00:00:00 +0530 Tue, 27 Dec 2016 10:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189055 The court addressed whether an assessment finding that a Rs. 48,000 credit constituted income not disclosed in the return constituted material to establish concealment under section 28(1)(c), and whether a penalty could lawfully follow. It held that the assessment finding is relevant material capable of sustaining a concealment finding (legal question as to existence of evidence) and, because the penalty proceedings contained no successful rebuttal, the decision to impose penalty was supportable (fact and discretion issue). Outcome: material supported concealment and justified imposition of penalty on that material. Case-Laws Income Tax Thu, 06 Aug 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189055