https://www.taxtmi.com/caselaws?id=22957 The Court upheld the penalty imposed on the individual assessee under section 271(1)(c) of the Income Tax Act for concealing income. Despite the assessee's argument that the income enhancement was based on estimates, the Court found that the burden of proof was not discharged due to the lack of maintained accounts. The Tribunal's decision was supported, emphasizing the substantial disparity in sales turnover figures between the original and revised returns. The Court ruled in favor of the Revenue, stating that the burden of proof requirement was not met by the assessee. en-us Thu, 22 Nov 1990 00:00:00 +0530 Tue, 15 Dec 2009 15:43:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22957 The Court upheld the penalty imposed on the individual assessee under section 271(1)(c) of the Income Tax Act for concealing income. Despite the assessee's argument that the income enhancement was based on estimates, the Court found that the burden of proof was not discharged due to the lack of maintained accounts. The Tribunal's decision was supported, emphasizing the substantial disparity in sales turnover figures between the original and revised returns. The Court ruled in favor of the Revenue, stating that the burden of proof requirement was not met by the assessee. Case-Laws Income Tax Thu, 22 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22957