https://www.taxtmi.com/caselaws?id=790115 Penalty for concealment was held unsustainable where the assessee's income was finally assessed on book profit under section 115JB, so the normal computation did not determine tax liability. As tax was payable under the MAT regime and the alleged concealment had no effect on the tax so computed, the principle of tax sought to be evaded was not satisfied. The penalty under section 271(1)(c) was therefore deleted. en-us Wed, 15 Apr 2026 00:00:00 +0530 Mon, 20 Apr 2026 08:30:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790115 Penalty for concealment was held unsustainable where the assessee's income was finally assessed on book profit under section 115JB, so the normal computation did not determine tax liability. As tax was payable under the MAT regime and the alleged concealment had no effect on the tax so computed, the principle of tax sought to be evaded was not satisfied. The penalty under section 271(1)(c) was therefore deleted. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790115