https://www.taxtmi.com/caselaws?id=396762 Penalty under section 271(1)(c) was held unsustainable where it rested only on an addition made in quantum assessment for unaccounted sales. The governing principle applied was that concealment or furnishing of inaccurate particulars requires material showing a deliberate or conscious act by the assessee; a mere addition in assessment is not enough. As the Revenue produced no evidence of deliberate suppression of receipts or false particulars, the penalty was not exigible and was deleted. en-us Mon, 01 Jun 2020 00:00:00 +0530 Fri, 08 Nov 2024 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396762 Penalty under section 271(1)(c) was held unsustainable where it rested only on an addition made in quantum assessment for unaccounted sales. The governing principle applied was that concealment or furnishing of inaccurate particulars requires material showing a deliberate or conscious act by the assessee; a mere addition in assessment is not enough. As the Revenue produced no evidence of deliberate suppression of receipts or false particulars, the penalty was not exigible and was deleted. Case-Laws Income Tax Mon, 01 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396762