https://www.taxtmi.com/caselaws?id=151624 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the assessee's explanation regarding disputed purchases to be credible, emphasizing the Assessing Officer's burden to prove concealment. As the explanation was not disproven, the penalty was deemed unsustainable due to the lack of clarity on the nature of the alleged offense. The decision was rendered on February 12, 2010. en-us Fri, 12 Feb 2010 00:00:00 +0530 Sat, 08 Jun 2013 10:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151624 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the assessee's explanation regarding disputed purchases to be credible, emphasizing the Assessing Officer's burden to prove concealment. As the explanation was not disproven, the penalty was deemed unsustainable due to the lack of clarity on the nature of the alleged offense. The decision was rendered on February 12, 2010. Case-Laws Income Tax Fri, 12 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151624