https://www.taxtmi.com/caselaws?id=16125 The court ruled in favor of the assessee, rejecting the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 1971-72. The court emphasized the necessity of concrete evidence of deliberate concealment and highlighted that a bona fide explanation should prevent penalty initiation. It found no deliberate concealment by the assessee, as income from one truck was disclosed separately. The penalty imposition was deemed unjustified, based on presumption rather than concrete proof, emphasizing the burden of proof on the Department to establish concealment beyond reasonable doubt. en-us Wed, 24 Feb 1999 00:00:00 +0530 Tue, 01 Sep 2009 12:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16125 The court ruled in favor of the assessee, rejecting the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 1971-72. The court emphasized the necessity of concrete evidence of deliberate concealment and highlighted that a bona fide explanation should prevent penalty initiation. It found no deliberate concealment by the assessee, as income from one truck was disclosed separately. The penalty imposition was deemed unjustified, based on presumption rather than concrete proof, emphasizing the burden of proof on the Department to establish concealment beyond reasonable doubt. Case-Laws Income Tax Wed, 24 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16125