https://www.taxtmi.com/caselaws?id=2042 The High Court dismissed the appeal, affirming that the penalty under Section 271(1)(c) for alleged concealment of income was impermissible. The court found no deliberate act of concealment or furnishing inaccurate particulars by the assessee, emphasizing the need for proof of such actions. The decision was based on the lack of evidence that expenses were not genuinely incurred and clarified that the inability to produce proper vouchers did not amount to concealment, especially in light of the business nature and existing book entries. en-us Mon, 23 Jul 2007 00:00:00 +0530 Sat, 02 Aug 2008 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2042 The High Court dismissed the appeal, affirming that the penalty under Section 271(1)(c) for alleged concealment of income was impermissible. The court found no deliberate act of concealment or furnishing inaccurate particulars by the assessee, emphasizing the need for proof of such actions. The decision was based on the lack of evidence that expenses were not genuinely incurred and clarified that the inability to produce proper vouchers did not amount to concealment, especially in light of the business nature and existing book entries. Case-Laws Income Tax Mon, 23 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2042