TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Assessee bears onus under Explanation to s.271(1)(c) to prove assessed-returned income difference is not concealed</h1> SC held that under the Explanation to s.271(1)(c) the onus lies on the assessee to discharge the required proof that the difference between assessed and ... Interpretation of the Expln. to s. 271(1)(c) - concealed income - difference between the income assessed and the income returned - HELD THAT:- It is for the assessee to discharge the onus as contemplated in the said Explanation - in the instant case the onus has not been discharged by assessee - In these decisions it has been clearly stated that with the incorporation of the Expln. to s. 271, the view which had been taken earlier in CIT vs. Anwar Ali [1970 (4) TMI 1 - SUPREME COURT], no longer holds the field and it is for the assessee to discharge the onus as contemplated in the said Explanation. In view of the fact that in the instant case the onus has not been discharged, the High Court judgment calls for no interference. The appeals are accordingly dismissed The Supreme Court upheld the imposition of penalty on concealed income under the Explanation to section 271(1)(c) of the IT Act. The court referred to previous decisions emphasizing that the onus is on the assessee to discharge under the Explanation. The High Court's decision was upheld, and the appeals were dismissed with no costs.
TaxTMI 
TaxTMI 
