https://www.taxtmi.com/caselaws?id=348656 The Tribunal upheld the Commissioner's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the assessee's explanation for non-disclosure of income during assessment proceedings to be genuine and justified, as the income was received from a settlement related to a transaction by the deceased husband, of which the assessee had no knowledge. The Tribunal determined that the assessee had met the burden of proof, and there was no evidence to suggest falsity or lack of bona fides in the explanation, leading to the dismissal of the appeal. en-us Tue, 19 Sep 2017 00:00:00 +0530 Tue, 26 Sep 2017 07:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348656 The Tribunal upheld the Commissioner's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the assessee's explanation for non-disclosure of income during assessment proceedings to be genuine and justified, as the income was received from a settlement related to a transaction by the deceased husband, of which the assessee had no knowledge. The Tribunal determined that the assessee had met the burden of proof, and there was no evidence to suggest falsity or lack of bona fides in the explanation, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 19 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348656