Penalty u/s 271(1)(c)

Penalty will be the difference between the tax on total income excluding the concealed income and tax on total income including concealed income. for example, if the tax on 20 lakhs (returned income + addition) is 255000/- and tax on total 15 lakhs is 155000/-, then the penalty will be 100 to 300 percentage of 100000 (255000 - 155000)

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