https://www.taxtmi.com/caselaws?id=276334 Where concealment of income or deliberate furnishing of inaccurate particulars is found, penalty under section 28(1)(c) of the Income-tax Act, 1922 is not confined to the exact amount specifically proved to have been suppressed. The penalty may be computed by reference to the tax assessed on the income finally determined, that is, the difference between the tax actually assessed and the tax that would have been payable if the return had been accepted as correct. The final assessment under section 23(3) provides the basis for calculating the penalty, and the authority is not restricted to the concealed amount alone. en-us Wed, 12 Jan 1955 00:00:00 +0530 Tue, 06 Nov 2018 15:55:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276334 Where concealment of income or deliberate furnishing of inaccurate particulars is found, penalty under section 28(1)(c) of the Income-tax Act, 1922 is not confined to the exact amount specifically proved to have been suppressed. The penalty may be computed by reference to the tax assessed on the income finally determined, that is, the difference between the tax actually assessed and the tax that would have been payable if the return had been accepted as correct. The final assessment under section 23(3) provides the basis for calculating the penalty, and the authority is not restricted to the concealed amount alone. Case-Laws Income Tax Wed, 12 Jan 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276334