https://www.taxtmi.com/caselaws?id=60593 Concealment penalty under section 28(1)(c) of the Indian Income-tax Act, 1922 could continue against the legal representatives of a deceased assessee because section 24B made the estate liable for the deceased's tax liability, and penalty was treated as part of the assessment machinery. The delay in passing the penalty order was not fatal where it resulted from the pendency and communication of higher-court proceedings. On the facts, the share transaction findings showed a name-lender and a camouflage for the investment, so the assessee's failure to disclose the purchase and source of funds amounted to concealment and inaccurate particulars, justifying penalty on merits. en-us Tue, 09 Oct 1984 00:00:00 +0530 Fri, 07 Jan 2011 11:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60593 Concealment penalty under section 28(1)(c) of the Indian Income-tax Act, 1922 could continue against the legal representatives of a deceased assessee because section 24B made the estate liable for the deceased's tax liability, and penalty was treated as part of the assessment machinery. The delay in passing the penalty order was not fatal where it resulted from the pendency and communication of higher-court proceedings. On the facts, the share transaction findings showed a name-lender and a camouflage for the investment, so the assessee's failure to disclose the purchase and source of funds amounted to concealment and inaccurate particulars, justifying penalty on merits. Case-Laws Income Tax Tue, 09 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60593