2004 (8) TMI 87

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....y C. J. - The order of the Income-tax Appellate Tribunal confirming the order of the Commissioner of Income-tax (Appeals) is under challenge. Learned standing counsel for the Income-tax Department, Mr. K. Subramaniam, submits that there is a legal fiction introduced in Explanation 1 to section 271(1) of the Income-tax Act, 1961, that concealment, ipso facto, will attract penalty. We are not ....

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....as a result thereof shall, for the purposes of clause (c) of this sub-section, be deemed to represent the income in respect of which particulars have been concealed." On reading the above provisions, it cannot be said that there is any legal fiction countenancing the establishment of mens rea. This is not a case of levy of tax for the differential amount of investment made on the construction o....