Court held that the penalty of 100 per cent. of the tax sought to be evaded worked out was the amount payable as penalty on tax sought to be avoided and not on total tax liability (AY. 2010-11)
Kite Maker v. ITO (2021) 438 ITR 353/(2022) 214 DTR 316/ 328 CTR 124 (Ker.)(HC)
S. 271(1)(c) : Penalty-Concealment-Quantum of penalty-Penalty to be on basis of tax sought to be avoided and not on total tax liability.