https://www.taxtmi.com/caselaws?id=253193 The Andhra Pradesh High Court upheld the dismissal of an appeal regarding the assessment of income tax returns for the year 1994-95. The court emphasized the importance of proving intentional concealment of income before imposing penalties under Section 271(1)(c) of the Income Tax Act, highlighting that inadvertent errors or genuine beliefs do not warrant penalties. The judgment underscored the burden on the revenue to establish deliberate concealment, ultimately affirming that discrepancies in returns alone do not justify penalty imposition. en-us Tue, 21 Oct 2014 00:00:00 +0530 Tue, 18 Nov 2014 16:52:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253193 The Andhra Pradesh High Court upheld the dismissal of an appeal regarding the assessment of income tax returns for the year 1994-95. The court emphasized the importance of proving intentional concealment of income before imposing penalties under Section 271(1)(c) of the Income Tax Act, highlighting that inadvertent errors or genuine beliefs do not warrant penalties. The judgment underscored the burden on the revenue to establish deliberate concealment, ultimately affirming that discrepancies in returns alone do not justify penalty imposition. Case-Laws Income Tax Tue, 21 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253193