https://www.taxtmi.com/highlights?id=35639 Penalty - genuineness of the gifts - There was concealment on the part of the assessee so as to levy penalty under Section 271(1)(c) of the Act. Thus, the Tribunal was right in denying benefit under Proviso to Section 56(2)(vi) - HC en-us Fri, 28 Jul 2017 14:43:18 +0530 Fri, 28 Jul 2017 14:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=35639 Penalty - genuineness of the gifts - There was concealment on the part of the assessee so as to levy penalty under Section 271(1)(c) of the Act. Thus, the Tribunal was right in denying benefit under Proviso to Section 56(2)(vi) - HC Highlights Income Tax Fri, 28 Jul 2017 14:43:18 +0530 https://www.taxtmi.com/highlights?id=35639