https://www.taxtmi.com/caselaws?id=24322 The court held that the Tribunal erred in cancelling penalties under section 271(1)(c) of the Income-tax Act, 1961, related to discrepancies in passenger tax stamps. Referring to the Vishwakarma Industries case, the court emphasized the burden of proof shifting to the assessee when income is less than assessed income, with legal presumptions against the assessee. As the Explanation to section 271(1)(c) applied, the burden of proof could not be on the Revenue. The court ruled in favor of the Revenue, directing the Tribunal to reconsider the matter. en-us Mon, 09 Jan 1989 00:00:00 +0530 Tue, 19 Jan 2010 11:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24322 The court held that the Tribunal erred in cancelling penalties under section 271(1)(c) of the Income-tax Act, 1961, related to discrepancies in passenger tax stamps. Referring to the Vishwakarma Industries case, the court emphasized the burden of proof shifting to the assessee when income is less than assessed income, with legal presumptions against the assessee. As the Explanation to section 271(1)(c) applied, the burden of proof could not be on the Revenue. The court ruled in favor of the Revenue, directing the Tribunal to reconsider the matter. Case-Laws Income Tax Mon, 09 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24322