https://www.taxtmi.com/caselaws?id=62115 The Tribunal held that no penalty could be levied under Section 271(1)(c) as there was no concealment of income by the assessee. The appeal was allowed, and the reliance on the India Sea Food case by the Department was deemed irrelevant. The Tribunal emphasized that the collections for 1972 were properly accounted for in 1973, negating any allegations of concealment. en-us Thu, 08 Sep 1977 00:00:00 +0530 Tue, 18 Jan 2011 11:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62115 The Tribunal held that no penalty could be levied under Section 271(1)(c) as there was no concealment of income by the assessee. The appeal was allowed, and the reliance on the India Sea Food case by the Department was deemed irrelevant. The Tribunal emphasized that the collections for 1972 were properly accounted for in 1973, negating any allegations of concealment. Case-Laws Income Tax Thu, 08 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62115