https://www.taxtmi.com/caselaws?id=285899 Income estimates for two branches were upheld where the record showed suppression, manipulated accounts, unexplained cash credits and supporting material from the assessee's own books, and the assessment was not vitiated merely because the order was not elaborately reasoned. The assessee's challenge to the estimate failed because the appellate authority relied on adequate material and worked out income from the available records. Penalty under section 28(1)(c) was also sustained because the same material supported concealment of income and furnishing of inaccurate particulars; the reduced quantum of penalty was not disturbed. en-us Fri, 16 Jan 1959 00:00:00 +0530 Sat, 01 Feb 2020 19:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285899 Income estimates for two branches were upheld where the record showed suppression, manipulated accounts, unexplained cash credits and supporting material from the assessee's own books, and the assessment was not vitiated merely because the order was not elaborately reasoned. The assessee's challenge to the estimate failed because the appellate authority relied on adequate material and worked out income from the available records. Penalty under section 28(1)(c) was also sustained because the same material supported concealment of income and furnishing of inaccurate particulars; the reduced quantum of penalty was not disturbed. Case-Laws Income Tax Fri, 16 Jan 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285899