https://www.taxtmi.com/caselaws?id=62638 The Vice President of the Appellate Tribunal concluded that the penalty imposed by the IAC under section 271(1)(c) of the IT Act for the assessment year 1962-63 was not justified. The judgment emphasized the necessity of clear findings of concealed income and concrete evidence to support penalty imposition. The matter was referred back to the Bench for further proceedings in accordance with the Act. en-us Fri, 07 May 1976 00:00:00 +0530 Thu, 20 Jan 2011 18:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62638 The Vice President of the Appellate Tribunal concluded that the penalty imposed by the IAC under section 271(1)(c) of the IT Act for the assessment year 1962-63 was not justified. The judgment emphasized the necessity of clear findings of concealed income and concrete evidence to support penalty imposition. The matter was referred back to the Bench for further proceedings in accordance with the Act. Case-Laws Income Tax Fri, 07 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62638