https://www.taxtmi.com/caselaws?id=21957 A mere assessment of income by estimate does not by itself make penalty under the concealment provision automatically leviable or automatically barred; the real question is whether the statutory burden under the Explanation is discharged and whether the facts show fraud, gross neglect, or wilful neglect. On the facts discussed, the Tribunal did not cancel penalty solely because the income was estimated, but also because there was no material showing culpable conduct by the assessee. The penalty deletion was therefore allowed to stand, as the reference proceeded on an incorrect factual assumption and the Tribunal's alternative reasoning was valid. en-us Thu, 04 Apr 1991 00:00:00 +0530 Sat, 05 Dec 2009 10:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21957 A mere assessment of income by estimate does not by itself make penalty under the concealment provision automatically leviable or automatically barred; the real question is whether the statutory burden under the Explanation is discharged and whether the facts show fraud, gross neglect, or wilful neglect. On the facts discussed, the Tribunal did not cancel penalty solely because the income was estimated, but also because there was no material showing culpable conduct by the assessee. The penalty deletion was therefore allowed to stand, as the reference proceeded on an incorrect factual assumption and the Tribunal's alternative reasoning was valid. Case-Laws Income Tax Thu, 04 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21957