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TMI Blog2016 (8) TMI 567X X X X Extracts X X X X X X X X Extracts X X X X ..... passed under Section 271 (1) (c) by the authorities below is confirmed. In that view of the matter, in our opinion, Tribunal has not committed any error while passing the impugned order. Therefore, present appeal is dismissed and the question posed for our consideration is answered in favour of the assessee and against the revenue. - TAX APPEAL NO. 2587 of 2010 - - - Dated:- 11-8-2016 - MR. KS JHAVERI AND MR. G.R.UDHWANI,JJ. FOR THE APPELLANT : MR SUDHIR M MEHTA, ADVOCATE FOR THE OPPONENT : MR BS SOPARKAR, ADVOCATE for MRS SWATI SOPARKAR, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. By way of this appeal, the revenue has challenged the judgment and order dated 11.6.2010 passed by the Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing that loss into income, means the tax that would have been chargeable on the income in respect of which particulars have been concealed or inaccurate particulars have been furnished had such income been the total income: (b) in any case to which Explanation 3 applies, means the tax on the total income assessed [as reduced by the amount of advance tax, tax deducted at source, tax collected at source and self-assessment tax paid before the issue of notice under section 148] (c) In any other case, means the difference between the tax on the total income assessed and the tax that would have been chargeable had such total income been reduced by the amount of income in respect of which particulars have been concealed or inaccurate partic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... particulars have been concealed. In a case, however, where on setting off the concealed income against any loss incurred by the assessee under other head of income or brought forward from earlier years, the' total income is reduced to a figure lower than the concealed income or even to a minus figure, `the tax sought to be evaded' will mean the tax chargeable on the concealed income as if it were the total income. Another exception to the general definition of the expression `tax sought to be evaded' given earlier is a case to which Explanation 3 applies. Here, the tax sought to be evaded will be the tax chargeable on the entire total income assessed. 10. A combined reading of the Committee's recommendations and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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