https://www.taxtmi.com/caselaws?id=63415 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of Rs. 52,741. The decision favored the appellant due to the lack of evidence supporting income concealment and the unavailability of impounded books for reconciliation, emphasizing the absence of fraud or wilful neglect in income reporting. en-us Tue, 27 Feb 1990 00:00:00 +0530 Sat, 29 Jan 2011 18:19:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63415 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of Rs. 52,741. The decision favored the appellant due to the lack of evidence supporting income concealment and the unavailability of impounded books for reconciliation, emphasizing the absence of fraud or wilful neglect in income reporting. Case-Laws Income Tax Tue, 27 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63415