https://www.taxtmi.com/caselaws?id=2387 Penalty under Section 271(1)(c) was treated as dependent on proof of concealment of income or furnishing of inaccurate particulars. Where the assessee had disclosed income particulars in Part IV of the return and supported the disclosure with legal opinion, the Tribunal found no concealment on the recorded facts. Applying the settled principle that disclosure negates concealment, it declined to refer the proposed question, holding that no substantial question of law arose and the penalty deletion was sustained. en-us Mon, 25 Jun 2007 00:00:00 +0530 Thu, 31 Jul 2008 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2387 Penalty under Section 271(1)(c) was treated as dependent on proof of concealment of income or furnishing of inaccurate particulars. Where the assessee had disclosed income particulars in Part IV of the return and supported the disclosure with legal opinion, the Tribunal found no concealment on the recorded facts. Applying the settled principle that disclosure negates concealment, it declined to refer the proposed question, holding that no substantial question of law arose and the penalty deletion was sustained. Case-Laws Income Tax Mon, 25 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2387