https://www.taxtmi.com/caselaws?id=65789 The ITAT upheld the ld. AAC's decision to delete a penalty imposed under section 271(1)(c) of the IT Act, 1961 on the assessee for concealment. The Revenue failed to prove concealment as the allegedly concealed income was less than 20% of the returned income. The ITAT emphasized that lack of evidence should not automatically imply guilt, and the burden of proof rested on the Revenue. Despite the lack of corroborative evidence, the ITAT found the assessee's explanation plausible, fulfilling the civil burden of proof requirement. Therefore, the penalty was deemed unwarranted, and the Departmental appeal was dismissed. en-us Thu, 01 Mar 1984 00:00:00 +0530 Fri, 18 Feb 2011 17:19:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65789 The ITAT upheld the ld. AAC's decision to delete a penalty imposed under section 271(1)(c) of the IT Act, 1961 on the assessee for concealment. The Revenue failed to prove concealment as the allegedly concealed income was less than 20% of the returned income. The ITAT emphasized that lack of evidence should not automatically imply guilt, and the burden of proof rested on the Revenue. Despite the lack of corroborative evidence, the ITAT found the assessee's explanation plausible, fulfilling the civil burden of proof requirement. Therefore, the penalty was deemed unwarranted, and the Departmental appeal was dismissed. Case-Laws Income Tax Thu, 01 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65789