https://www.taxtmi.com/caselaws?id=15133 The High Court affirmed the Tribunal's findings that there was no justification for the levy of penalties under sections 271(1)(c) of the Income-tax Act and section 18(1)(c) of the Wealth-tax Act. The Court emphasized that the Department must prove concealment of income, and mere admissions or additions under specific sections do not automatically imply concealment. The Court held that the penalties were not warranted in the absence of evidence demonstrating deliberate concealment. en-us Mon, 08 Jun 1998 00:00:00 +0530 Mon, 03 Aug 2009 12:19:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15133 The High Court affirmed the Tribunal's findings that there was no justification for the levy of penalties under sections 271(1)(c) of the Income-tax Act and section 18(1)(c) of the Wealth-tax Act. The Court emphasized that the Department must prove concealment of income, and mere admissions or additions under specific sections do not automatically imply concealment. The Court held that the penalties were not warranted in the absence of evidence demonstrating deliberate concealment. Case-Laws Income Tax Mon, 08 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15133