https://www.taxtmi.com/caselaws?id=68733 The Tribunal allowed the appeal, canceling the penalty of Rs. 15,000 imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found that the mere surrender of income to purchase peace did not indicate concealment of income. As the Department failed to provide independent evidence proving concealment, the penalty was deemed unjustified and thus cancelled. en-us Mon, 30 Dec 2002 00:00:00 +0530 Fri, 01 Apr 2011 11:37:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68733 The Tribunal allowed the appeal, canceling the penalty of Rs. 15,000 imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found that the mere surrender of income to purchase peace did not indicate concealment of income. As the Department failed to provide independent evidence proving concealment, the penalty was deemed unjustified and thus cancelled. Case-Laws Income Tax Mon, 30 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68733