https://www.taxtmi.com/caselaws?id=36782 The court upheld the penalty under s. 271(1)(c) for the assessment year 1963-64, emphasizing that the assessee's agreement to additions based on low gross profit indicated deliberate concealment, justifying the penalty. The court noted that once deliberate concealment is found, the penalty provision applies regardless of the assessee's consent. Previous legal precedents supported the view that agreeing to higher income estimates by tax authorities can imply deliberate concealment. The court dismissed the writ petition, affirming the penalty based on the inference of deliberate concealment from the assessee's conduct in agreeing to additions. en-us Mon, 02 Apr 1979 00:00:00 +0530 Wed, 24 Mar 2010 14:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36782 The court upheld the penalty under s. 271(1)(c) for the assessment year 1963-64, emphasizing that the assessee's agreement to additions based on low gross profit indicated deliberate concealment, justifying the penalty. The court noted that once deliberate concealment is found, the penalty provision applies regardless of the assessee's consent. Previous legal precedents supported the view that agreeing to higher income estimates by tax authorities can imply deliberate concealment. The court dismissed the writ petition, affirming the penalty based on the inference of deliberate concealment from the assessee's conduct in agreeing to additions. Case-Laws Income Tax Mon, 02 Apr 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36782