https://www.taxtmi.com/caselaws?id=71718 The Tribunal canceled the penalty of Rs. 5,000 imposed on the assessee under section 271(1)(c) by the Income Tax Officer. Despite inconsistencies in the depositor's statements, the Tribunal found that the assessee had discharged their burden under the Explanation to section 271(1)(c) by producing the depositor and that the evidence did not prove concealment. The Tribunal noted the lack of cross-examination of the depositor on the affidavit and absence of evidence supporting the charge of concealment, leading to the conclusion that the penalty was unjustified. en-us Sat, 26 Sep 1981 00:00:00 +0530 Tue, 26 Apr 2011 17:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71718 The Tribunal canceled the penalty of Rs. 5,000 imposed on the assessee under section 271(1)(c) by the Income Tax Officer. Despite inconsistencies in the depositor's statements, the Tribunal found that the assessee had discharged their burden under the Explanation to section 271(1)(c) by producing the depositor and that the evidence did not prove concealment. The Tribunal noted the lack of cross-examination of the depositor on the affidavit and absence of evidence supporting the charge of concealment, leading to the conclusion that the penalty was unjustified. Case-Laws Income Tax Sat, 26 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71718