https://www.taxtmi.com/caselaws?id=67317 Penalty under section 271(1)(c) could not be sustained because the Revenue failed to establish conscious and deliberate concealment of income. The assessee's surrender of cash credits, by itself, was insufficient to prove concealment, particularly where the record remained incomplete and disclosed no additional material showing intent to evade tax. The Tribunal held that the burden to prove concealment lay on the Revenue and, on the available record, found no ground to disturb the earlier deletion of penalty. The Department's miscellaneous application therefore failed, and the penalty deletion was maintained in favour of the assessee. en-us Sun, 31 Dec 1978 00:00:00 +0530 Thu, 10 Mar 2011 10:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67317 Penalty under section 271(1)(c) could not be sustained because the Revenue failed to establish conscious and deliberate concealment of income. The assessee's surrender of cash credits, by itself, was insufficient to prove concealment, particularly where the record remained incomplete and disclosed no additional material showing intent to evade tax. The Tribunal held that the burden to prove concealment lay on the Revenue and, on the available record, found no ground to disturb the earlier deletion of penalty. The Department's miscellaneous application therefore failed, and the penalty deletion was maintained in favour of the assessee. Case-Laws Income Tax Sun, 31 Dec 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67317