No concealment penalty for non-disclosing amount in ITR if same was duly reflected in balance sheet; SLP dismissed

INCOME TAX: SLP dismissed against High Court ruling that where assessee, a cine artist, failed to show in return of income, amount received as advance from various cinema producers towards work to be done by her but said amount was duly reflected in balance sheet annexed to original return, there was no intention on part of assessee to conceal particulars of income; thus, penalty order passed under sec. 271(1)(c) was to be set aside

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