https://www.taxtmi.com/caselaws?id=200355 A return filed on 7 January 1929 may be treated as a revised return under Section 22(3) permitting amendment before assessment, but the statutory protection for bona fide revisions applies only where the taxpayer lacked prior knowledge of the error; where the earlier return was deliberately false or omission was known to the taxpayer, authorities may examine the prior incorrect return and impose penalty for concealment under Section 28. The ruling clarifies that treatment as a revised return for assessability does not bar application of penalty provisions when deliberate concealment is established. en-us Wed, 16 Dec 1931 00:00:00 +0530 Mon, 26 Mar 2018 16:52:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200355 A return filed on 7 January 1929 may be treated as a revised return under Section 22(3) permitting amendment before assessment, but the statutory protection for bona fide revisions applies only where the taxpayer lacked prior knowledge of the error; where the earlier return was deliberately false or omission was known to the taxpayer, authorities may examine the prior incorrect return and impose penalty for concealment under Section 28. The ruling clarifies that treatment as a revised return for assessability does not bar application of penalty provisions when deliberate concealment is established. Case-Laws Income Tax Wed, 16 Dec 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200355