https://www.taxtmi.com/caselaws?id=6942 Penalty under section 28(1)(c) remains attracted where the assessee's income is found to have been deliberately suppressed and the books of account are rejected as unreliable. Estimation of income after rejection of accounts does not by itself defeat penalty where the real basis is concealment, not a mere accounting dispute. Once deliberate manipulation of entries and conscious suppression are established, reliance on the proviso to section 13 does not exonerate the assessee from penalty. The penalty proceedings were therefore validly sustained against the assessee. en-us Tue, 25 Oct 1966 00:00:00 +0530 Sat, 07 Feb 2009 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6942 Penalty under section 28(1)(c) remains attracted where the assessee's income is found to have been deliberately suppressed and the books of account are rejected as unreliable. Estimation of income after rejection of accounts does not by itself defeat penalty where the real basis is concealment, not a mere accounting dispute. Once deliberate manipulation of entries and conscious suppression are established, reliance on the proviso to section 13 does not exonerate the assessee from penalty. The penalty proceedings were therefore validly sustained against the assessee. Case-Laws Income Tax Tue, 25 Oct 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6942