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of <h1>Assessee wins appeal against penalty for concealing income under section 271(1)(c)</h1> The ITAT Indore allowed the appeal of an assessee against a penalty under s. 271(1)(c) for concealing income. The Tribunal canceled the penalty after ... - The ITAT Indore heard an assessee's appeal against a penalty under s. 271(1)(c) for concealing income. The penalty was reduced by the AAC but later restored by the Tribunal. The Tribunal found that the assessee had discharged the burden of proof by examining the creditor, and since the Department did not provide evidence that the cash credit represented concealed income, the penalty was canceled. The appeal was allowed, and the penalty was canceled. (Case Citation: 1984 (9) TMI 128 - ITAT INDORE)
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