https://www.taxtmi.com/article/detailed?id=13868 Penalty for concealment cannot be levied on conjecture; actual concealment or furnishing of inaccurate particulars must be established. Admissions during survey and subsequent voluntary declaration of additional income, if accepted and assessed, do not by themselves justify penalty absent corroborative evidence or a clear finding of deliberate suppression. Explanation-based exceptions protecting income ultimately brought to tax apply where the income is declared in a return, undermining penalty when the return and assessment reflect the surrendered amount. en-us Fri, 21 Mar 2025 08:28:51 +0530 Fri, 21 Mar 2025 08:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13868 Penalty for concealment cannot be levied on conjecture; actual concealment or furnishing of inaccurate particulars must be established. Admissions during survey and subsequent voluntary declaration of additional income, if accepted and assessed, do not by themselves justify penalty absent corroborative evidence or a clear finding of deliberate suppression. Explanation-based exceptions protecting income ultimately brought to tax apply where the income is declared in a return, undermining penalty when the return and assessment reflect the surrendered amount. Articles Income Tax Fri, 21 Mar 2025 08:28:51 +0530 https://www.taxtmi.com/article/detailed?id=13868