https://www.taxtmi.com/caselaws?id=22461 The Explanation inserted by the Finance Act, 1964 to section 271(1)(c) changes the burden of proof in concealment penalty cases and must be applied where the provision governs the assessment year. The Tribunal cancelled the penalty by relying on pre-Explanation case law without examining the legal effect of that Explanation. Because the penalty dispute arose from income additions for the 1966-67 assessment year, the matter had to be tested in the light of the Supreme Court decisions on the shifted burden. The reference was therefore sent back for reconsideration under the correct statutory framework. en-us Fri, 14 Dec 1990 00:00:00 +0530 Thu, 10 Dec 2009 12:14:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22461 The Explanation inserted by the Finance Act, 1964 to section 271(1)(c) changes the burden of proof in concealment penalty cases and must be applied where the provision governs the assessment year. The Tribunal cancelled the penalty by relying on pre-Explanation case law without examining the legal effect of that Explanation. Because the penalty dispute arose from income additions for the 1966-67 assessment year, the matter had to be tested in the light of the Supreme Court decisions on the shifted burden. The reference was therefore sent back for reconsideration under the correct statutory framework. Case-Laws Income Tax Fri, 14 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22461