https://www.taxtmi.com/caselaws?id=17199 The High Court ruled in favor of the assessee, emphasizing that penalty under section 271(1)(c) of the Income Tax Act can only be imposed if the assessing authority establishes concealment of income before seeking explanations. The Court highlighted the importance of natural justice and due process, stating that the burden is on the Department to show prima facie evidence of concealment before penalizing the assessee for furnishing inaccurate particulars. The decision underscored the procedural obligations and evidentiary standards required for imposing penalties, ultimately favoring the assessee and rejecting the Revenue's appeal. en-us Wed, 24 Apr 1996 00:00:00 +0530 Tue, 15 Sep 2009 17:44:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17199 The High Court ruled in favor of the assessee, emphasizing that penalty under section 271(1)(c) of the Income Tax Act can only be imposed if the assessing authority establishes concealment of income before seeking explanations. The Court highlighted the importance of natural justice and due process, stating that the burden is on the Department to show prima facie evidence of concealment before penalizing the assessee for furnishing inaccurate particulars. The decision underscored the procedural obligations and evidentiary standards required for imposing penalties, ultimately favoring the assessee and rejecting the Revenue's appeal. Case-Laws Income Tax Wed, 24 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17199