https://www.taxtmi.com/caselaws?id=14833 The High Court set aside the Tribunal's decision to cancel the penalty imposed under section 271(1)(c) of the Income-tax Act. The Court emphasized that the burden of proof to rebut the presumption of concealed income lies with the assessee, not the Revenue. The Court directed the Tribunal to reassess whether the assessee had successfully discharged this burden, highlighting the significance of correctly allocating the burden of proof in cases involving alleged concealed income. en-us Wed, 02 Aug 2000 00:00:00 +0530 Thu, 23 Jul 2009 15:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14833 The High Court set aside the Tribunal's decision to cancel the penalty imposed under section 271(1)(c) of the Income-tax Act. The Court emphasized that the burden of proof to rebut the presumption of concealed income lies with the assessee, not the Revenue. The Court directed the Tribunal to reassess whether the assessee had successfully discharged this burden, highlighting the significance of correctly allocating the burden of proof in cases involving alleged concealed income. Case-Laws Income Tax Wed, 02 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14833