https://www.taxtmi.com/caselaws?id=305309 A penalty for concealment was held unsustainable where the income addition arose from substitution of sale consideration under the section 50C deeming fiction, because such an adjustment for capital gains does not by itself conclusively establish concealment or inaccurate particulars. The commentary also notes that the small additional receipt was not supported by any separate and specific finding in the penalty order; it was merely clubbed with the larger addition. On that basis, the penalty under section 271(1)(c) was deleted. en-us Tue, 29 Aug 2017 00:00:00 +0530 Tue, 29 Nov 2022 09:12:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305309 A penalty for concealment was held unsustainable where the income addition arose from substitution of sale consideration under the section 50C deeming fiction, because such an adjustment for capital gains does not by itself conclusively establish concealment or inaccurate particulars. The commentary also notes that the small additional receipt was not supported by any separate and specific finding in the penalty order; it was merely clubbed with the larger addition. On that basis, the penalty under section 271(1)(c) was deleted. Case-Laws Income Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305309