https://www.taxtmi.com/caselaws?id=15149 The High Court overturned the Tribunal's decision to cancel the levy of penalty on the assessee, finding that the Tribunal's conclusions were based on irrelevant materials and presumptions. The High Court held that there was no violation of natural justice as the assessee had been given ample opportunity to present its case. Additionally, the High Court determined that the Tribunal's finding that the assessee had discharged the burden of proof regarding concealment of income was unreasonable. The inconsistency in the Tribunal's findings between assessment and penalty proceedings led the High Court to rule in favor of the Revenue and against the assessee. en-us Sat, 27 Nov 1999 00:00:00 +0530 Mon, 03 Aug 2009 13:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15149 The High Court overturned the Tribunal's decision to cancel the levy of penalty on the assessee, finding that the Tribunal's conclusions were based on irrelevant materials and presumptions. The High Court held that there was no violation of natural justice as the assessee had been given ample opportunity to present its case. Additionally, the High Court determined that the Tribunal's finding that the assessee had discharged the burden of proof regarding concealment of income was unreasonable. The inconsistency in the Tribunal's findings between assessment and penalty proceedings led the High Court to rule in favor of the Revenue and against the assessee. Case-Laws Income Tax Sat, 27 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15149