https://www.taxtmi.com/caselaws?id=59966 The Tribunal upheld penalties for concealment of income under Section 271(1)(c) for the assessment years 1966-71. Penalties were reduced for 1966-68 and recalculated based on tax avoidance. Share income disclosure from firms in 1968-69 was accepted, resulting in no penalties. Interest income from various sources incurred penalties for non-disclosure. Penalties were upheld for 1968-71 at specified amounts. The appeals were partially allowed for 1966-70 and fully allowed for 1970-71. en-us Mon, 12 Jan 1981 00:00:00 +0530 Sun, 08 May 2011 14:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59966 The Tribunal upheld penalties for concealment of income under Section 271(1)(c) for the assessment years 1966-71. Penalties were reduced for 1966-68 and recalculated based on tax avoidance. Share income disclosure from firms in 1968-69 was accepted, resulting in no penalties. Interest income from various sources incurred penalties for non-disclosure. Penalties were upheld for 1968-71 at specified amounts. The appeals were partially allowed for 1966-70 and fully allowed for 1970-71. Case-Laws Income Tax Mon, 12 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59966