https://www.taxtmi.com/caselaws?id=11738 The court upheld penalties imposed under section 271(1)(c) of the Income-tax Act for concealment of income by the assessee for assessment years 1979-80 and 1980-81. The Tribunal found concealment due to delayed disclosures post a search, emphasizing the burden of proof on the assessee. Compliance with disclosure requirements under section 273A was crucial, with the court dismissing challenges to the penalties. The judgment stressed the significance of full disclosure, burden of proof, and adherence to tax laws in penalty determinations. en-us Fri, 21 Mar 2003 00:00:00 +0530 Sun, 07 Feb 2010 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11738 The court upheld penalties imposed under section 271(1)(c) of the Income-tax Act for concealment of income by the assessee for assessment years 1979-80 and 1980-81. The Tribunal found concealment due to delayed disclosures post a search, emphasizing the burden of proof on the assessee. Compliance with disclosure requirements under section 273A was crucial, with the court dismissing challenges to the penalties. The judgment stressed the significance of full disclosure, burden of proof, and adherence to tax laws in penalty determinations. Case-Laws Income Tax Fri, 21 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11738