https://www.taxtmi.com/caselaws?id=65603 The Tribunal reversed the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for alleged concealment of income. Despite the assessee's arguments and reliance on legal precedents, the Tribunal found that the assessee failed to provide evidence supporting the cash sales claim and that the penalty was justified. The Tribunal emphasized that penalty provisions do not require the consent of the assessee and reinstated the penalty imposed by the ITO. The revenue's appeal was allowed, and the penalty order was upheld. en-us Tue, 31 Oct 1989 00:00:00 +0530 Wed, 16 Feb 2011 18:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65603 The Tribunal reversed the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for alleged concealment of income. Despite the assessee's arguments and reliance on legal precedents, the Tribunal found that the assessee failed to provide evidence supporting the cash sales claim and that the penalty was justified. The Tribunal emphasized that penalty provisions do not require the consent of the assessee and reinstated the penalty imposed by the ITO. The revenue's appeal was allowed, and the penalty order was upheld. Case-Laws Income Tax Tue, 31 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65603