https://www.taxtmi.com/caselaws?id=18066 The High Court upheld the Tribunal's decision, ruling that no penalty was justified under section 271(1)(c) as there was insufficient evidence of concealment beyond the agreed addition of undisclosed income. The judgment emphasized the necessity of proving mens rea for penalty imposition and dismissed the Department's arguments. The Court sided with the assessee, concluding that the penalty was not applicable in this case. en-us Mon, 05 Feb 1996 00:00:00 +0530 Sat, 26 Sep 2009 15:27:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18066 The High Court upheld the Tribunal's decision, ruling that no penalty was justified under section 271(1)(c) as there was insufficient evidence of concealment beyond the agreed addition of undisclosed income. The judgment emphasized the necessity of proving mens rea for penalty imposition and dismissed the Department's arguments. The Court sided with the assessee, concluding that the penalty was not applicable in this case. Case-Laws Income Tax Mon, 05 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18066