https://www.taxtmi.com/caselaws?id=10527 The High Court affirmed the Tribunal's decision that no penalty could be imposed under section 271(1)(c) of the Income-tax Act if the concealed income did not result in a liability for income tax. The Court found that the appellant failed to demonstrate that tax would be chargeable on the concealed income exceeding the total income assessed. Consequently, the Court dismissed the appeal, ruling that no substantial legal question was raised, and the appeal lacked merit. en-us Thu, 09 Dec 2004 00:00:00 +0530 Fri, 17 Jul 2009 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10527 The High Court affirmed the Tribunal's decision that no penalty could be imposed under section 271(1)(c) of the Income-tax Act if the concealed income did not result in a liability for income tax. The Court found that the appellant failed to demonstrate that tax would be chargeable on the concealed income exceeding the total income assessed. Consequently, the Court dismissed the appeal, ruling that no substantial legal question was raised, and the appeal lacked merit. Case-Laws Income Tax Thu, 09 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10527