https://www.taxtmi.com/caselaws?id=64639 The Appellate Tribunal upheld the cancellation of a penalty imposed under section 271(1)(c) of the IT Act by the Assistant Commissioner of Income Tax. The penalty was related to cash credits added to the income of an assessee firm from undisclosed sources. The Tribunal emphasized the Department's burden to establish concealed income and found insufficient evidence to prove that the cash credits constituted concealed income, leading to the dismissal of the Department's appeal and affirming the cancellation of the penalty. en-us Sat, 09 Jun 1979 00:00:00 +0530 Wed, 09 Feb 2011 11:18:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64639 The Appellate Tribunal upheld the cancellation of a penalty imposed under section 271(1)(c) of the IT Act by the Assistant Commissioner of Income Tax. The penalty was related to cash credits added to the income of an assessee firm from undisclosed sources. The Tribunal emphasized the Department's burden to establish concealed income and found insufficient evidence to prove that the cash credits constituted concealed income, leading to the dismissal of the Department's appeal and affirming the cancellation of the penalty. Case-Laws Income Tax Sat, 09 Jun 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64639