https://www.taxtmi.com/caselaws?id=23016 The High Court of Bombay upheld the Tribunal's decision in a case concerning the cancellation of a penalty order under section 271(1)(c) of the Income-tax Act, 1961. The Court ruled in favor of the assessee, stating that the allegation of concealment was not proven, and additions to the income did not necessarily indicate concealment. The Court emphasized the Tribunal's finding on concealment was unassailable, rejecting the Revenue's argument based on a Supreme Court judgment. No costs were awarded in this matter. en-us Wed, 01 Aug 1990 00:00:00 +0530 Wed, 16 Dec 2009 10:58:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23016 The High Court of Bombay upheld the Tribunal's decision in a case concerning the cancellation of a penalty order under section 271(1)(c) of the Income-tax Act, 1961. The Court ruled in favor of the assessee, stating that the allegation of concealment was not proven, and additions to the income did not necessarily indicate concealment. The Court emphasized the Tribunal's finding on concealment was unassailable, rejecting the Revenue's argument based on a Supreme Court judgment. No costs were awarded in this matter. Case-Laws Income Tax Wed, 01 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23016