https://www.taxtmi.com/caselaws?id=13405 A breached settlement did not bar concealment penalty, because the agreed tax liability had not been complied with and the Department was free to proceed under the penalty provisions. The natural justice objection failed where detailed notice and opportunity had been given before levy of penalty, including on income admitted in settlement proceedings after suppression was detected. The limitation and delay objection also failed, as no express time bar governed concealment penalty under the relevant enactments and the proceedings awaited completion of assessment and settlement-related litigation. Substantial suppression of income, including omission of income from a controlled company, was treated as established concealment justifying penalty. en-us Tue, 06 Mar 2007 00:00:00 +0530 Thu, 28 May 2009 17:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13405 A breached settlement did not bar concealment penalty, because the agreed tax liability had not been complied with and the Department was free to proceed under the penalty provisions. The natural justice objection failed where detailed notice and opportunity had been given before levy of penalty, including on income admitted in settlement proceedings after suppression was detected. The limitation and delay objection also failed, as no express time bar governed concealment penalty under the relevant enactments and the proceedings awaited completion of assessment and settlement-related litigation. Substantial suppression of income, including omission of income from a controlled company, was treated as established concealment justifying penalty. Case-Laws Income Tax Tue, 06 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13405