https://www.taxtmi.com/caselaws?id=65757 The tribunal allowed the appeal, overturning the penalty imposed by the ITO under s. 271(1)(c) for the assessment year 1970-71. The decision was based on the insufficiency of evidence to support the penalty and the failure to establish concealment of income by the assessee, in line with legal precedents and court rulings referenced in the appeal. en-us Sat, 28 Feb 1981 00:00:00 +0530 Fri, 18 Feb 2011 16:10:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65757 The tribunal allowed the appeal, overturning the penalty imposed by the ITO under s. 271(1)(c) for the assessment year 1970-71. The decision was based on the insufficiency of evidence to support the penalty and the failure to establish concealment of income by the assessee, in line with legal precedents and court rulings referenced in the appeal. Case-Laws Income Tax Sat, 28 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65757