1980 (10) TMI 102

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..... estoration and the assessee in the cross objection for cancellation. 2. The assessee originally returned an income of Rs. 9,148. It was accepted and assessed. Then there was a search in the premises of the assessee. The assessee filed a voluntary disclosure petition for Rs. 16,000 as the disclosed income for the relevant assessment year. Then the reassessment was completed on a total income of .....

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..... tisfactory explanation and that penalty is leviable only for the chitty subscription. 4. We heard both sides. The case of the assessee that there is no concealment at all cannot be accepted. The attendant facts and circumstances arising from the original return and ending with the voluntary disclosure petition clearly show that there is concealment. The plea, that chitty subscriptions were made .....

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