https://www.taxtmi.com/caselaws?id=12983 Penalty under section 271(1)(c) turned on whether the assessee's surrender of income justified action for concealment or furnishing inaccurate particulars. The High Court noted that the Tribunal had proceeded on the basis of a conditional offer and had deleted the penalty without examining the assessee's alternative defence. Because the relevant material for deciding that defence had not been considered, the issue required fresh adjudication. The matter was therefore remitted to the Tribunal for rehearing and a new decision after allowing the assessee to file additional material. en-us Wed, 29 Aug 2001 00:00:00 +0530 Mon, 25 May 2009 17:37:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12983 Penalty under section 271(1)(c) turned on whether the assessee's surrender of income justified action for concealment or furnishing inaccurate particulars. The High Court noted that the Tribunal had proceeded on the basis of a conditional offer and had deleted the penalty without examining the assessee's alternative defence. Because the relevant material for deciding that defence had not been considered, the issue required fresh adjudication. The matter was therefore remitted to the Tribunal for rehearing and a new decision after allowing the assessee to file additional material. Case-Laws Income Tax Wed, 29 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12983