https://www.taxtmi.com/caselaws?id=198389 Penalty for concealment could not be sustained where the income addition was made only on a protective basis and the Assessing Officer had not reached the requisite satisfaction that the assessee concealed income. The Tribunal noted that protective assessment reflected uncertainty about the person finally assessable to tax, so the jurisdictional precondition for initiating penalty was not met. In the absence of a concluded finding or material basis for concealment, the concealment penalty was deleted. en-us Fri, 07 May 2010 00:00:00 +0530 Tue, 30 Jan 2018 14:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198389 Penalty for concealment could not be sustained where the income addition was made only on a protective basis and the Assessing Officer had not reached the requisite satisfaction that the assessee concealed income. The Tribunal noted that protective assessment reflected uncertainty about the person finally assessable to tax, so the jurisdictional precondition for initiating penalty was not met. In the absence of a concluded finding or material basis for concealment, the concealment penalty was deleted. Case-Laws Income Tax Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198389