https://www.taxtmi.com/caselaws?id=69328 The appellate tribunal canceled penalties imposed under section 271(1)(c) for three assessment years, ruling in favor of the assessee. Despite insufficient evidence proving the employment of two individuals, no concrete proof of income concealment was found. The tribunal emphasized the need for substantial evidence to disprove expenditure claims and establish mala fide intent, ultimately deeming the penalties inapplicable and allowing the assessee's appeals. en-us Thu, 30 Apr 1981 00:00:00 +0530 Wed, 06 Apr 2011 12:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69328 The appellate tribunal canceled penalties imposed under section 271(1)(c) for three assessment years, ruling in favor of the assessee. Despite insufficient evidence proving the employment of two individuals, no concrete proof of income concealment was found. The tribunal emphasized the need for substantial evidence to disprove expenditure claims and establish mala fide intent, ultimately deeming the penalties inapplicable and allowing the assessee's appeals. Case-Laws Income Tax Thu, 30 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69328