https://www.taxtmi.com/caselaws?id=11734 The court affirmed the Tribunal's decision to cancel the penalty under section 271(1)(c) of the Income-tax Act, 1961, for the assessment year 1980-81. The court held that the Revenue failed to establish concealment of income under the revised legal framework post a specific case law. The court found that the Tribunal's decision was correct, and both questions of law were answered in favor of the assessee. en-us Thu, 21 Nov 2002 00:00:00 +0530 Sat, 06 Feb 2010 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11734 The court affirmed the Tribunal's decision to cancel the penalty under section 271(1)(c) of the Income-tax Act, 1961, for the assessment year 1980-81. The court held that the Revenue failed to establish concealment of income under the revised legal framework post a specific case law. The court found that the Tribunal's decision was correct, and both questions of law were answered in favor of the assessee. Case-Laws Income Tax Thu, 21 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11734