https://www.taxtmi.com/caselaws?id=21875 The court ruled in favor of the Revenue, finding that the Tribunal's decision to reduce the penalty for concealing income was unsustainable. The judgment emphasized the importance of providing evidence and following proper procedures in cases of alleged income concealment to determine the appropriate penalty amount. The court concluded that the assessee had concealed particulars of the entire income, justifying the penalty imposed by the Inspecting Assistant Commissioner under section 271(1)(c) of the Income-tax Act, 1961. en-us Thu, 04 Jul 1991 00:00:00 +0530 Wed, 02 Dec 2009 17:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21875 The court ruled in favor of the Revenue, finding that the Tribunal's decision to reduce the penalty for concealing income was unsustainable. The judgment emphasized the importance of providing evidence and following proper procedures in cases of alleged income concealment to determine the appropriate penalty amount. The court concluded that the assessee had concealed particulars of the entire income, justifying the penalty imposed by the Inspecting Assistant Commissioner under section 271(1)(c) of the Income-tax Act, 1961. Case-Laws Income Tax Thu, 04 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21875