https://www.taxtmi.com/caselaws?id=21481 The court held that the Income-tax Appellate Tribunal erred in sustaining a penalty of Rs. 50,000 under section 18(1)(c) of the Wealth-tax Act, 1957, on the assessee for not declaring a plot of land due to an oversight, not intentional concealment. The burden of proof of conscious concealment lies with the Revenue, and the Tribunal wrongly placed it on the assessee. The court ruled in favor of the assessee, stating that the Tribunal's decision to uphold the penalty was incorrect, with no costs awarded. en-us Wed, 04 Mar 1992 00:00:00 +0530 Tue, 24 Nov 2009 16:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21481 The court held that the Income-tax Appellate Tribunal erred in sustaining a penalty of Rs. 50,000 under section 18(1)(c) of the Wealth-tax Act, 1957, on the assessee for not declaring a plot of land due to an oversight, not intentional concealment. The burden of proof of conscious concealment lies with the Revenue, and the Tribunal wrongly placed it on the assessee. The court ruled in favor of the assessee, stating that the Tribunal's decision to uphold the penalty was incorrect, with no costs awarded. Case-Laws Wealth-tax Wed, 04 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21481