https://www.taxtmi.com/caselaws?id=67702 The Appellate Tribunal ITAT Jaipur upheld the cancellation of penalties imposed by the WTO on the assessee under section 18(1)(c). The case involved allegations of concealment of wealth, unrecorded expenditures, and property values. The CWT (Appeals) found no deliberate concealment by the assessees, attributing discrepancies to inadvertent omissions. The Tribunal dismissed the revenue's appeal, ruling out penalty restoration due to lack of evidence supporting concealment. The decision favored the assessees, emphasizing the revenue's erroneous approach and affirming the CWT (Appeals) decision. en-us Wed, 29 Jul 1981 00:00:00 +0530 Mon, 14 Mar 2011 11:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67702 The Appellate Tribunal ITAT Jaipur upheld the cancellation of penalties imposed by the WTO on the assessee under section 18(1)(c). The case involved allegations of concealment of wealth, unrecorded expenditures, and property values. The CWT (Appeals) found no deliberate concealment by the assessees, attributing discrepancies to inadvertent omissions. The Tribunal dismissed the revenue's appeal, ruling out penalty restoration due to lack of evidence supporting concealment. The decision favored the assessees, emphasizing the revenue's erroneous approach and affirming the CWT (Appeals) decision. Case-Laws Wealth-tax Wed, 29 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67702