https://www.taxtmi.com/caselaws?id=345459 The Tribunal found that the assessee did not conceal income but rather disclosed all relevant particulars regarding the transfer of assets. The explanation provided by the assessee that the transfer was a donation, not a sale, was considered plausible and supported by evidence. As a result, the penalty under section 271(1)(c) of the Income Tax Act was deleted, and the appeal of the assessee was allowed. en-us Mon, 21 Nov 2016 00:00:00 +0530 Tue, 18 Jul 2017 10:25:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345459 The Tribunal found that the assessee did not conceal income but rather disclosed all relevant particulars regarding the transfer of assets. The explanation provided by the assessee that the transfer was a donation, not a sale, was considered plausible and supported by evidence. As a result, the penalty under section 271(1)(c) of the Income Tax Act was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Mon, 21 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345459