https://www.taxtmi.com/caselaws?id=189103 Penalty proceedings were held valid where the first step toward penalty was taken while the appellate authority was still seized of the assessment appeal, so jurisdiction was not lost. A company in voluntary liquidation was treated as retaining its identity for penalty purposes until dissolution, because cessation of business does not end its status as a juristic person and unit of assessment. The challenge based on inadequate consideration of the explanation and alleged non-judicial character of the order also failed, as the explanation merely reiterated the claim already considered and the penalty order was consistent with the prior prima facie finding of concealment. The penalty levy was sustained. en-us Tue, 19 Nov 1957 00:00:00 +0530 Wed, 28 Dec 2016 13:17:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189103 Penalty proceedings were held valid where the first step toward penalty was taken while the appellate authority was still seized of the assessment appeal, so jurisdiction was not lost. A company in voluntary liquidation was treated as retaining its identity for penalty purposes until dissolution, because cessation of business does not end its status as a juristic person and unit of assessment. The challenge based on inadequate consideration of the explanation and alleged non-judicial character of the order also failed, as the explanation merely reiterated the claim already considered and the penalty order was consistent with the prior prima facie finding of concealment. The penalty levy was sustained. Case-Laws Income Tax Tue, 19 Nov 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189103