https://www.taxtmi.com/caselaws?id=39024 The Tribunal considered excess remittances by van salesmen as indicative of understated sales, applying a gross profit rate to calculate turnover. The firm appealed a penalty for alleged income concealment, arguing against deliberate suppression. The Tribunal deleted the penalty, emphasizing lack of high probability for deliberate suppression. The High Court upheld the Tribunal's decision, stating no evidence of deliberate suppression, ruling in favor of the firm and awarding costs. en-us Wed, 09 Jul 1975 00:00:00 +0530 Mon, 12 Apr 2010 10:51:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39024 The Tribunal considered excess remittances by van salesmen as indicative of understated sales, applying a gross profit rate to calculate turnover. The firm appealed a penalty for alleged income concealment, arguing against deliberate suppression. The Tribunal deleted the penalty, emphasizing lack of high probability for deliberate suppression. The High Court upheld the Tribunal's decision, stating no evidence of deliberate suppression, ruling in favor of the firm and awarding costs. Case-Laws Income Tax Wed, 09 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39024