https://www.taxtmi.com/caselaws?id=8884 The High Court upheld the Tribunal's decision to delete penalties imposed under section 271(1)(c) of the Income-tax Act, emphasizing the necessity of proving deliberate concealment or furnishing inaccurate particulars by the assessee for penalty imposition. The Court highlighted that penalties are punitive in nature and must be supported by evidence of intentional wrongdoing. Finding the case to involve unproved cash deposits rather than deliberate concealment, the Court affirmed the Tribunal's decision, stating no error of law was found. Judge D. D. Thakur concurred with the judgment. en-us Thu, 12 Apr 1973 00:00:00 +0530 Tue, 16 Jun 2009 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8884 The High Court upheld the Tribunal's decision to delete penalties imposed under section 271(1)(c) of the Income-tax Act, emphasizing the necessity of proving deliberate concealment or furnishing inaccurate particulars by the assessee for penalty imposition. The Court highlighted that penalties are punitive in nature and must be supported by evidence of intentional wrongdoing. Finding the case to involve unproved cash deposits rather than deliberate concealment, the Court affirmed the Tribunal's decision, stating no error of law was found. Judge D. D. Thakur concurred with the judgment. Case-Laws Income Tax Thu, 12 Apr 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8884