https://www.taxtmi.com/caselaws?id=38691 The court held that the assessee was guilty of concealment of income and furnishing inaccurate particulars, despite filing a revised return. The Tribunal's decision to cancel the penalty was overturned, emphasizing that the filing of a revised return does not absolve liability if deliberate concealment exists in the original return. The court remanded the case to the Tribunal to determine the penalty amount, reiterating that the revised return does not mitigate penalties for fraudulent original returns. en-us Wed, 09 Feb 1977 00:00:00 +0530 Thu, 08 Apr 2010 13:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38691 The court held that the assessee was guilty of concealment of income and furnishing inaccurate particulars, despite filing a revised return. The Tribunal's decision to cancel the penalty was overturned, emphasizing that the filing of a revised return does not absolve liability if deliberate concealment exists in the original return. The court remanded the case to the Tribunal to determine the penalty amount, reiterating that the revised return does not mitigate penalties for fraudulent original returns. Case-Laws Income Tax Wed, 09 Feb 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38691