https://www.taxtmi.com/caselaws?id=397155 The Appellate Tribunal ITAT Pune ruled in favor of the appellant, concluding that there was no concealment of income justifying the penalty under section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the lack of evidence of actual receipt of income, the appellant's good faith belief, and legal precedents emphasizing the need for concrete proof of concealment. The Tribunal directed the Assessing Officer to delete the penalty, allowing the appellant's appeal. en-us Tue, 04 Aug 2020 00:00:00 +0530 Wed, 05 Aug 2020 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397155 The Appellate Tribunal ITAT Pune ruled in favor of the appellant, concluding that there was no concealment of income justifying the penalty under section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the lack of evidence of actual receipt of income, the appellant's good faith belief, and legal precedents emphasizing the need for concrete proof of concealment. The Tribunal directed the Assessing Officer to delete the penalty, allowing the appellant's appeal. Case-Laws Income Tax Tue, 04 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397155