Revenue's Penalty Request Denied for Alleged Gift Amount of Rs. 23,000

The Revenue's request to direct the Tribunal to consider a penalty under section 271(1)(c) for an alleged gift amount of Rs. 23,000 was denied. The Tribunal found no evidence of wilful or fraudulent concealment and rejected the application.

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The Revenue asked the court to direct the Tribunal to consider a question regarding the penalty under section 271(1)(c) for alleged gift amount of Rs. 23,000. The Tribunal found no proof of wilful or fraudulent concealment, rejecting the application.

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