https://www.taxtmi.com/caselaws?id=35967 The High Court upheld the Tribunal's decision that the penalty order remained valid despite the reclassification of income from "Other sources" to "Business." The Court emphasized that the concealment of income was crucial, regardless of the income head. The Court did not address the issues regarding the application of the General Clauses Act or the limitation period as they were not pursued by the assessee. The validity of the penalty order was affirmed in favor of the revenue, with no costs awarded. en-us Wed, 30 Jul 1980 00:00:00 +0530 Thu, 18 Mar 2010 12:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35967 The High Court upheld the Tribunal's decision that the penalty order remained valid despite the reclassification of income from "Other sources" to "Business." The Court emphasized that the concealment of income was crucial, regardless of the income head. The Court did not address the issues regarding the application of the General Clauses Act or the limitation period as they were not pursued by the assessee. The validity of the penalty order was affirmed in favor of the revenue, with no costs awarded. Case-Laws Income Tax Wed, 30 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35967