https://www.taxtmi.com/caselaws?id=343680 The Tribunal ruled in favor of the assessee in three appeals against penalty orders under section 271(1)(c) for AYs 2008-09, 2010-11, and 2011-12. The Tribunal held that the assessee provided a genuine explanation for non-disclosure of income particulars, citing mental stress and oversight. Emphasizing the significance of bonafide explanations, the Tribunal directed the AO to delete the penalties imposed for all assessment years, highlighting the burden of proof on the Revenue to establish concealment. en-us Fri, 26 May 2017 00:00:00 +0530 Wed, 31 May 2017 06:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343680 The Tribunal ruled in favor of the assessee in three appeals against penalty orders under section 271(1)(c) for AYs 2008-09, 2010-11, and 2011-12. The Tribunal held that the assessee provided a genuine explanation for non-disclosure of income particulars, citing mental stress and oversight. Emphasizing the significance of bonafide explanations, the Tribunal directed the AO to delete the penalties imposed for all assessment years, highlighting the burden of proof on the Revenue to establish concealment. Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343680