https://www.taxtmi.com/caselaws?id=382910 The High Court allowed the appeal, setting aside the Tribunal's order and restoring the Commissioner's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Court emphasized the burden of proof on the revenue department to establish concealment or furnishing inaccurate particulars of income once the assessee provides a credible explanation. The judgment underscores the importance of a bona fide explanation and stringent requirements for penalty imposition, highlighting the need for clear evidence of wrongdoing. en-us Wed, 26 Jun 2019 00:00:00 +0530 Fri, 12 Jul 2019 08:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382910 The High Court allowed the appeal, setting aside the Tribunal's order and restoring the Commissioner's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Court emphasized the burden of proof on the revenue department to establish concealment or furnishing inaccurate particulars of income once the assessee provides a credible explanation. The judgment underscores the importance of a bona fide explanation and stringent requirements for penalty imposition, highlighting the need for clear evidence of wrongdoing. Case-Laws Income Tax Wed, 26 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382910