https://www.taxtmi.com/caselaws?id=18001 The High Court upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961 on the assessee for failure to produce books of account and concealment of income. The Court ruled in favor of the Department, stating that the burden of proof shifted to the assessee under the Explanation to section 271(1)(c) when the returned income was less than 80% of the assessed income. As the assessee failed to provide any explanation or discharge the burden, the presumption of concealment stood, justifying the penalty. en-us Mon, 18 Nov 1996 00:00:00 +0530 Sat, 26 Sep 2009 11:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18001 The High Court upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961 on the assessee for failure to produce books of account and concealment of income. The Court ruled in favor of the Department, stating that the burden of proof shifted to the assessee under the Explanation to section 271(1)(c) when the returned income was less than 80% of the assessed income. As the assessee failed to provide any explanation or discharge the burden, the presumption of concealment stood, justifying the penalty. Case-Laws Income Tax Mon, 18 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18001