https://www.taxtmi.com/caselaws?id=9123 Penalty under concealment provisions may be sustained where entries in a pocket note book, cross-checked with regular books and surrounding circumstances, show deliberate suppression of turnover not disclosed in the return. The stated material was treated as more than a mere rejection of the assessee's explanation, because the omission followed a surprise inspection and the concealment would not otherwise have been detected. On quantum, the penalty was considered justifiable because no mitigating circumstances were shown for reduction, and the assessment of penalty followed the governing Supreme Court authority on concealment cases. en-us Mon, 05 Feb 1973 00:00:00 +0530 Fri, 19 Jun 2009 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9123 Penalty under concealment provisions may be sustained where entries in a pocket note book, cross-checked with regular books and surrounding circumstances, show deliberate suppression of turnover not disclosed in the return. The stated material was treated as more than a mere rejection of the assessee's explanation, because the omission followed a surprise inspection and the concealment would not otherwise have been detected. On quantum, the penalty was considered justifiable because no mitigating circumstances were shown for reduction, and the assessment of penalty followed the governing Supreme Court authority on concealment cases. Case-Laws Income Tax Mon, 05 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9123