https://www.taxtmi.com/caselaws?id=287296 The High Court ruled against the assessee in a case involving penalties under Section 271(1)(c) of the Income-tax Act. The Court held that the burden was on the assessee to prove no concealment of income. The Tribunal's decision to cancel penalties related to certain additions under Section 69A was deemed erroneous, as the Court found the assessee's explanations unsatisfactory, inferring income concealment. Consequently, the penalties imposed by the Assessing Officer were upheld, favoring the Revenue's position. en-us Fri, 04 Jan 2013 00:00:00 +0530 Tue, 07 Apr 2020 17:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287296 The High Court ruled against the assessee in a case involving penalties under Section 271(1)(c) of the Income-tax Act. The Court held that the burden was on the assessee to prove no concealment of income. The Tribunal's decision to cancel penalties related to certain additions under Section 69A was deemed erroneous, as the Court found the assessee's explanations unsatisfactory, inferring income concealment. Consequently, the penalties imposed by the Assessing Officer were upheld, favoring the Revenue's position. Case-Laws Income Tax Fri, 04 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287296