https://www.taxtmi.com/caselaws?id=253673 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, finding the appellant's explanations regarding surrendering tenancy rights for two flats to be lacking credibility and not meeting the required standard of proof. Emphasizing the burden of proof on the revenue in penalty proceedings, the Tribunal determined that the penalty was justified based on the questionable nature of the appellant's claims. Legal precedents supporting the need for strict proof in penalty proceedings were cited, leading to the dismissal of the appeal challenging the penalty imposition. en-us Fri, 11 Jul 2014 00:00:00 +0530 Mon, 01 Dec 2014 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253673 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, finding the appellant's explanations regarding surrendering tenancy rights for two flats to be lacking credibility and not meeting the required standard of proof. Emphasizing the burden of proof on the revenue in penalty proceedings, the Tribunal determined that the penalty was justified based on the questionable nature of the appellant's claims. Legal precedents supporting the need for strict proof in penalty proceedings were cited, leading to the dismissal of the appeal challenging the penalty imposition. Case-Laws Income Tax Fri, 11 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253673