https://www.taxtmi.com/caselaws?id=58410 In reassessment-based penalty proceedings, concealment is judged by reference to the original return, not the return filed in response to notice under section 148. Because the assessee had omitted income from two properties in the original returns, the later disclosure in reassessment did not wipe out the earlier non-disclosure, and the issue was decided against the assessee. The penalty under section 271(1)(c) was also held to be governed by the law in force on the date of the original concealment, so it had to be recomputed with reference to the statutory minimum then applicable. The penalty deletions were therefore set aside in substance and the penalties directed to be recalculated accordingly. en-us Wed, 13 Oct 1976 00:00:00 +0530 Sat, 18 Dec 2010 18:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58410 In reassessment-based penalty proceedings, concealment is judged by reference to the original return, not the return filed in response to notice under section 148. Because the assessee had omitted income from two properties in the original returns, the later disclosure in reassessment did not wipe out the earlier non-disclosure, and the issue was decided against the assessee. The penalty under section 271(1)(c) was also held to be governed by the law in force on the date of the original concealment, so it had to be recomputed with reference to the statutory minimum then applicable. The penalty deletions were therefore set aside in substance and the penalties directed to be recalculated accordingly. Case-Laws Income Tax Wed, 13 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58410