https://www.taxtmi.com/caselaws?id=122766 The Tribunal set aside the CIT(A)'s order and deleted the penalties imposed under section 271(1)(c), allowing the appeal of the assessee. The Tribunal emphasized that the burden of proving concealment of income lies with the revenue and found that the Assessing Officer failed to provide specific adverse material to establish concealment. The Tribunal also noted that the penalty could not be imposed solely based on the conditional surrender of income by the assessee, referencing relevant case law. en-us Fri, 23 Oct 2009 00:00:00 +0530 Fri, 17 Aug 2012 11:06:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122766 The Tribunal set aside the CIT(A)'s order and deleted the penalties imposed under section 271(1)(c), allowing the appeal of the assessee. The Tribunal emphasized that the burden of proving concealment of income lies with the revenue and found that the Assessing Officer failed to provide specific adverse material to establish concealment. The Tribunal also noted that the penalty could not be imposed solely based on the conditional surrender of income by the assessee, referencing relevant case law. Case-Laws Income Tax Fri, 23 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122766