1978 (8) TMI 13

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..... ejected the books of account of the assessee holding that they were unreliable and assessed the income at Rs. 25,530. On appeal, the income was finally reduced to Rs. 17,030. Penalty proceedings were initiated. The IAC held that the concealment was to the tune of Rs. 8,301. He imposed a penalty of Rs. 9,000. On appeal, the Tribunal held that the account books were rejected because of a survey ma .....

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..... to the amount which is actually found to have been concealed by the assessee and not with regard to the entire extra profit addition sustained in the quantum proceedings ? " We have heard learned counsel for the revenue. No one appeared on behalf of the assessee. The Tribunal's order shows that none appeared before the Tribunal either. The Tribunal has found that the account books were rejected .....

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