https://www.taxtmi.com/caselaws?id=258876 The Tribunal ruled in favor of the assessee, finding that the concealment penalty under Section 271(1)(c) for school fees paid was unjustified. Despite the lack of corroborative evidence, the explanation provided by the assessee that the fees were paid by his mother-in-law was deemed credible. The Tribunal considered the admission of substantial questions of law by the Bombay High Court, which rendered the issue debatable and negated the basis for the penalty. As a result, the Tribunal deleted the penalty and allowed the assessee's appeal. en-us Thu, 05 Mar 2015 00:00:00 +0530 Wed, 22 Apr 2015 21:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258876 The Tribunal ruled in favor of the assessee, finding that the concealment penalty under Section 271(1)(c) for school fees paid was unjustified. Despite the lack of corroborative evidence, the explanation provided by the assessee that the fees were paid by his mother-in-law was deemed credible. The Tribunal considered the admission of substantial questions of law by the Bombay High Court, which rendered the issue debatable and negated the basis for the penalty. As a result, the Tribunal deleted the penalty and allowed the assessee's appeal. Case-Laws Income Tax Thu, 05 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258876