https://www.taxtmi.com/caselaws?id=70875 The Tribunal ruled in favor of the assessee, canceling the penalty under section 271(1)(c) for the assessment year 1996-97. The appeal of the assessee was allowed, overturning the penalty imposed by the Assessing Officer. The Tribunal emphasized the lack of concrete evidence of concealment and the absence of proof that the assessee sold liquor at higher prices, shifting the burden of proof to the revenue authorities, which was not met in this case. en-us Fri, 24 Feb 2006 00:00:00 +0530 Mon, 17 Jun 2013 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70875 The Tribunal ruled in favor of the assessee, canceling the penalty under section 271(1)(c) for the assessment year 1996-97. The appeal of the assessee was allowed, overturning the penalty imposed by the Assessing Officer. The Tribunal emphasized the lack of concrete evidence of concealment and the absence of proof that the assessee sold liquor at higher prices, shifting the burden of proof to the revenue authorities, which was not met in this case. Case-Laws Income Tax Fri, 24 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70875