https://www.taxtmi.com/caselaws?id=350848 The High Court held that the Tribunal erred in upholding the penalty under Section 271(1)(c) for concealment of income. The Court agreed with the CIT(A) that the penalty was unjustified as it was based on estimation without concrete evidence of concealment. The Tribunal's decision was overturned, and the appeal was allowed in favor of the assessee. en-us Tue, 12 Sep 2017 00:00:00 +0530 Tue, 14 Nov 2017 04:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350848 The High Court held that the Tribunal erred in upholding the penalty under Section 271(1)(c) for concealment of income. The Court agreed with the CIT(A) that the penalty was unjustified as it was based on estimation without concrete evidence of concealment. The Tribunal's decision was overturned, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350848