https://www.taxtmi.com/caselaws?id=71707 Penalty under section 271(1)(c) of the Income-tax Act was held not leviable where an unexplained cash credit was brought to tax as income from undisclosed sources only because the assessee failed to give satisfactory evidence. The record contained no positive material proving concealment, and the mere inference used for assessment was insufficient for penalty. The revenue was required to establish concealment by evidence beyond the addition itself, so the cancellation of penalty was upheld and the assessee's relief was confirmed. en-us Sat, 24 Jan 1976 00:00:00 +0530 Tue, 26 Apr 2011 16:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71707 Penalty under section 271(1)(c) of the Income-tax Act was held not leviable where an unexplained cash credit was brought to tax as income from undisclosed sources only because the assessee failed to give satisfactory evidence. The record contained no positive material proving concealment, and the mere inference used for assessment was insufficient for penalty. The revenue was required to establish concealment by evidence beyond the addition itself, so the cancellation of penalty was upheld and the assessee's relief was confirmed. Case-Laws Income Tax Sat, 24 Jan 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71707