https://www.taxtmi.com/acts?id=45768 The amendment omits "deliberately" from clause (c) of section 271(1) and inserts an Explanation deeming concealment where returned total income is less than eighty per cent of the total income as assessed under specified assessment sections (reduced by bona fide disallowed expenditure), unless the person proves the understatement did not arise from fraud or gross or wilful neglect. en-us Mon, 02 Dec 2024 18:23:30 +0530 Mon, 02 Dec 2024 18:23:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45768 The amendment omits "deliberately" from clause (c) of section 271(1) and inserts an Explanation deeming concealment where returned total income is less than eighty per cent of the total income as assessed under specified assessment sections (reduced by bona fide disallowed expenditure), unless the person proves the understatement did not arise from fraud or gross or wilful neglect. Act-Rules F. Acts / Amendment Acts Mon, 02 Dec 2024 18:23:30 +0530 https://www.taxtmi.com/acts?id=45768