https://www.taxtmi.com/caselaws?id=284930 Deliberate omission of investment transactions and resulting profits from the return and regular books was treated as concealment of income, because the omitted receipts were found only after investigation and the evidence did not support a mere bona fide computation dispute. On that basis, the concealment penalty was upheld. The income-tax authorities' profit computation was also sustained, as the deductions and reconstruction-related adjustments claimed by the assessee were either already given effect to or were not proved deductible on the facts found. The assessed figure for the year was therefore maintained. en-us Sat, 17 Jan 1942 00:00:00 +0630 Tue, 17 Dec 2019 17:53:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284930 Deliberate omission of investment transactions and resulting profits from the return and regular books was treated as concealment of income, because the omitted receipts were found only after investigation and the evidence did not support a mere bona fide computation dispute. On that basis, the concealment penalty was upheld. The income-tax authorities' profit computation was also sustained, as the deductions and reconstruction-related adjustments claimed by the assessee were either already given effect to or were not proved deductible on the facts found. The assessed figure for the year was therefore maintained. Case-Laws Income Tax Sat, 17 Jan 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=284930