https://www.taxtmi.com/caselaws?id=375031 The Tribunal justified directing the assessing officer to re-work the penalty quantum within the extended limitation period. The Tribunal's direction to recompute the penalty without a clear finding of concealment of income was upheld, as inaccurate particulars were furnished. Sufficient materials before the Tribunal justified the concealment of income for penalty levy. The penalty order dated 31.07.2008 was upheld within the limitation period, rejecting the argument of expiration. The appeals were rejected, but the Assessing Officer was directed to modify the penalty order in line with the High Court's assessments. en-us Fri, 01 Feb 2019 00:00:00 +0530 Tue, 12 Mar 2019 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375031 The Tribunal justified directing the assessing officer to re-work the penalty quantum within the extended limitation period. The Tribunal's direction to recompute the penalty without a clear finding of concealment of income was upheld, as inaccurate particulars were furnished. Sufficient materials before the Tribunal justified the concealment of income for penalty levy. The penalty order dated 31.07.2008 was upheld within the limitation period, rejecting the argument of expiration. The appeals were rejected, but the Assessing Officer was directed to modify the penalty order in line with the High Court's assessments. Case-Laws Income Tax Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375031