https://www.taxtmi.com/caselaws?id=36233 The High Court ruled in favor of the assessee in a case involving concealment of income under the Income Tax Act. The court determined that the concealed income amounted to Rs. 50,000, not Rs. 2.50 lakhs as contended by the Income-tax Appellate Tribunal. Consequently, the penalty imposed was reduced to Rs. 50,000 from the initial amount. The court directed the revenue to bear the costs, including an advocate's fee of Rs. 150. en-us Mon, 27 Oct 1980 00:00:00 +0530 Sat, 20 Mar 2010 11:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36233 The High Court ruled in favor of the assessee in a case involving concealment of income under the Income Tax Act. The court determined that the concealed income amounted to Rs. 50,000, not Rs. 2.50 lakhs as contended by the Income-tax Appellate Tribunal. Consequently, the penalty imposed was reduced to Rs. 50,000 from the initial amount. The court directed the revenue to bear the costs, including an advocate's fee of Rs. 150. Case-Laws Income Tax Mon, 27 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36233