https://www.taxtmi.com/caselaws?id=179694 The High Court upheld the tribunal's decision to delete a penalty imposed under section 271(1)(c) on the assessee, who had received a gift from a foreign donor. The court found that the assessee had disclosed the donor's identity, provided complete details of the gift, and the department failed to prove the explanation as false. Citing previous cases, the court held that an unproved explanation does not equate to concealment of income. As no substantial question of law arose, the Tax Appeal was dismissed in favor of the assessee. en-us Wed, 22 Jun 2011 00:00:00 +0530 Tue, 08 Mar 2016 12:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179694 The High Court upheld the tribunal's decision to delete a penalty imposed under section 271(1)(c) on the assessee, who had received a gift from a foreign donor. The court found that the assessee had disclosed the donor's identity, provided complete details of the gift, and the department failed to prove the explanation as false. Citing previous cases, the court held that an unproved explanation does not equate to concealment of income. As no substantial question of law arose, the Tax Appeal was dismissed in favor of the assessee. Case-Laws Income Tax Wed, 22 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179694