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1963 (11) TMI 5 - SUPREME COURT
Whether the levy of ₹ 68,501 as penalty for concealment in the original return for the assessment year 1951-52 is legal ?
Held that:- The first order of penalty passed on January 22, 1954, was pursuant to a notice issued on January 31, 1962, in respect of which the assessee had offered his explanation on March 11, 1952. That notice was not concerned with any concealment that came to light from the production of the books on August 17, 1953, and, therefore, on this concealment the assessee had never been heard. In assessing a penalty on this notice subsequently acquired knowledge would be irrelevant. Appeal dimissed.