https://www.taxtmi.com/caselaws?id=77573 The court upheld the penalty imposed under section 271(1)(c) for unreliable accounts in the arrack business, emphasizing the burden of proof on the assessee regarding concealment of income in line with legal precedents and statutory amendments. Despite the appellant's contentions, the Tribunal confirmed the penalty considering the factual findings and assessment confirmation at all levels. en-us Mon, 16 Feb 2009 00:00:00 +0530 Sat, 25 Sep 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77573 The court upheld the penalty imposed under section 271(1)(c) for unreliable accounts in the arrack business, emphasizing the burden of proof on the assessee regarding concealment of income in line with legal precedents and statutory amendments. Despite the appellant's contentions, the Tribunal confirmed the penalty considering the factual findings and assessment confirmation at all levels. Case-Laws Income Tax Mon, 16 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77573