1974 (8) TMI 23

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....as as follows : " Whether, in the facts and circumstances of the case, the levy of penalty could be deleted on the footing that it was not exigible ? " Facts material to the aforesaid question may be narrated in brief. The assessment year is 1962-63. The assessment was completed on February 15, 1963, under section 143 of the Income-tax Act, 1961 (hereinafter to be referred to as "the Act"), ....

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..... Thus, the total income ultimately assessed was Rs. 93,322. To be specific, the difference between the net income as originally assessed and the income as finally determined comes to Rs. 22,900. On March 8, 1968, a penalty proceeding was initiated under section 271(1)(c) of the Act by the Income-tax Officer for concealment of cash credit and in respect of unexplained investments and also the i....

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....he amendment. A Bench of this court examined the legal position in Commissioner of Income-tax v. K. C. Behera . It is not necessary to repeat the reasonings given therein. It would be sufficient to say that this court laid down in unmistakable terms that the onus was under the Act on the assessee to establish that the suppression was not deliberate. This onus, doubtless, is not, as in a criminal c....