https://www.taxtmi.com/caselaws?id=34721 Concealment penalty remains leviable even where the return declares a loss, because the earlier contrary view was displaced by the Supreme Court in Gold Coin Health Food P. Ltd.; the Tribunal's reliance on the overruled precedent was therefore unsustainable, and deletion of penalty could not stand. The penalty order was restored on the merits. Separately, the request for waiver was left for the competent authority, and the CBDT was directed to take a decision within one month in accordance with the court's earlier order. en-us Thu, 27 Aug 2009 00:00:00 +0530 Sun, 11 Oct 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34721 Concealment penalty remains leviable even where the return declares a loss, because the earlier contrary view was displaced by the Supreme Court in Gold Coin Health Food P. Ltd.; the Tribunal's reliance on the overruled precedent was therefore unsustainable, and deletion of penalty could not stand. The penalty order was restored on the merits. Separately, the request for waiver was left for the competent authority, and the CBDT was directed to take a decision within one month in accordance with the court's earlier order. Case-Laws Income Tax Thu, 27 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34721