https://www.taxtmi.com/caselaws?id=59963 Penalty for concealment is not automatic on every omission; it requires deliberate, wilful suppression or a bona fide case must fail on concealment. In a matter concerning non-disclosure of notional income from self-occupied house property, the assessee had disclosed the property investment, the notional income was small, and the explanation that the amount was not understood to be returnable was accepted as bona fide. On those facts, intent to evade tax was not established and penalty under section 271(1)(c) was held not justified. en-us Wed, 31 Dec 1980 00:00:00 +0530 Mon, 03 Jan 2011 10:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59963 Penalty for concealment is not automatic on every omission; it requires deliberate, wilful suppression or a bona fide case must fail on concealment. In a matter concerning non-disclosure of notional income from self-occupied house property, the assessee had disclosed the property investment, the notional income was small, and the explanation that the amount was not understood to be returnable was accepted as bona fide. On those facts, intent to evade tax was not established and penalty under section 271(1)(c) was held not justified. Case-Laws Income Tax Wed, 31 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59963