https://www.taxtmi.com/caselaws?id=38998 The High Court of Orissa addressed whether the penalty calculation should be based on a revised return filed after the Income-tax Officer discovered additional income. The Court held that the Tribunal erred in solely relying on the revised return for penalty calculation, as the assessee's actions indicated an intention to conceal income. Emphasizing the importance of voluntary revised returns before detection of suppression, the Court ruled that the penalty should be computed based on the total assessed figure minus the originally reported amount. The Court did not award costs for the proceedings. Judge N. K. Das concurred with the judgment. en-us Mon, 08 Sep 1975 00:00:00 +0530 Sat, 10 Apr 2010 18:12:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38998 The High Court of Orissa addressed whether the penalty calculation should be based on a revised return filed after the Income-tax Officer discovered additional income. The Court held that the Tribunal erred in solely relying on the revised return for penalty calculation, as the assessee's actions indicated an intention to conceal income. Emphasizing the importance of voluntary revised returns before detection of suppression, the Court ruled that the penalty should be computed based on the total assessed figure minus the originally reported amount. The Court did not award costs for the proceedings. Judge N. K. Das concurred with the judgment. Case-Laws Income Tax Mon, 08 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38998