https://www.taxtmi.com/caselaws?id=289680 Penalty under section 28(1)(c) of the Indian Income-tax Act is penal in character, so the department must prove concealment of income or deliberate furnishing of inaccurate particulars. The standard is not proof beyond reasonable doubt, but a high degree of probability appropriate to quasi-criminal proceedings, and assessment findings may serve as prima facie material in penalty proceedings. On the facts, the assessee failed to substantiate the claim that the cash credits were capital brought from Burma, and the record justified an inference of concealment or inaccurate particulars. The penalty was therefore sustained against the assessee. en-us Tue, 13 Feb 1962 00:00:00 +0530 Thu, 13 Aug 2020 19:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289680 Penalty under section 28(1)(c) of the Indian Income-tax Act is penal in character, so the department must prove concealment of income or deliberate furnishing of inaccurate particulars. The standard is not proof beyond reasonable doubt, but a high degree of probability appropriate to quasi-criminal proceedings, and assessment findings may serve as prima facie material in penalty proceedings. On the facts, the assessee failed to substantiate the claim that the cash credits were capital brought from Burma, and the record justified an inference of concealment or inaccurate particulars. The penalty was therefore sustained against the assessee. Case-Laws Indian Laws Tue, 13 Feb 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289680