https://www.taxtmi.com/caselaws?id=177521 The Tribunal allowed the appeal of the assessee and deleted the penalty imposed under section 271(1)(c). It emphasized the necessity for the Revenue to prove concealment of income for penalty imposition, distinguishing between assessment and penalty proceedings. The Tribunal found that the appellant had disclosed all relevant facts and provided explanations that were not deemed false, leading to the deletion of the penalty. en-us Fri, 20 Feb 2015 00:00:00 +0530 Mon, 11 Jan 2016 23:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177521 The Tribunal allowed the appeal of the assessee and deleted the penalty imposed under section 271(1)(c). It emphasized the necessity for the Revenue to prove concealment of income for penalty imposition, distinguishing between assessment and penalty proceedings. The Tribunal found that the appellant had disclosed all relevant facts and provided explanations that were not deemed false, leading to the deletion of the penalty. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177521