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Penalty for Concealment of Income Dismissed as Tax Liability Unchanged u/s 115JB; No Tax Evasion Found.

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....Penalty u/s 271(1)(c) - Concealment of income - Evasion of Tax - even after such disallowance, tax finally required to be paid, as per Section 115 JB of the Act, would remain the same. It cannot be stated that the assessee evaded tax. - HC....

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Penalty for Concealment of Income Dismissed as Tax Liability Unchanged u/s 115JB; No Tax Evasion Found.