https://www.taxtmi.com/caselaws?id=19275 The court upheld the Income-tax Appellate Tribunal's decision to set aside the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 1970-71. The court found that the assessee's explanation alone was sufficient to discharge the burden of proof, emphasizing that each case must be evaluated on its own merits. It was concluded that there was no fraud or wilful neglect by the assessee, and the burden of proof was properly discharged, leading to the ruling against the Revenue. en-us Wed, 27 Jul 1994 00:00:00 +0530 Thu, 05 Nov 2009 11:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19275 The court upheld the Income-tax Appellate Tribunal's decision to set aside the penalty imposed under section 271(1)(c) of the Income-tax Act for the assessment year 1970-71. The court found that the assessee's explanation alone was sufficient to discharge the burden of proof, emphasizing that each case must be evaluated on its own merits. It was concluded that there was no fraud or wilful neglect by the assessee, and the burden of proof was properly discharged, leading to the ruling against the Revenue. Case-Laws Income Tax Wed, 27 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19275