https://www.taxtmi.com/caselaws?id=13147 The High Court upheld the penalty imposition under section 271(1)(c) of the Income-tax Act, 1961 against an individual for concealing income received from his father-in-law in an abkari business. The court found the assessee failed to substantiate the explanation for the concealed income, leading to the rejection of the appeal and reinstatement of the penalty. The Revenue's appeal was allowed, setting aside the Tribunal's decision and directing the Assessing Officer to take necessary actions as per the Act, with no costs imposed. en-us Wed, 19 Sep 2001 00:00:00 +0530 Tue, 26 May 2009 16:42:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13147 The High Court upheld the penalty imposition under section 271(1)(c) of the Income-tax Act, 1961 against an individual for concealing income received from his father-in-law in an abkari business. The court found the assessee failed to substantiate the explanation for the concealed income, leading to the rejection of the appeal and reinstatement of the penalty. The Revenue's appeal was allowed, setting aside the Tribunal's decision and directing the Assessing Officer to take necessary actions as per the Act, with no costs imposed. Case-Laws Income Tax Wed, 19 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13147