https://www.taxtmi.com/caselaws?id=294018 The Tribunal concluded that the penalty under Section 271(1)(c) was not justified as the assessee had provided a bona fide explanation for the surrendered income, and the Revenue failed to prove any intentional concealment. Therefore, the penalty was deleted, and the appeal of the assessee was allowed. en-us Mon, 10 Aug 2015 00:00:00 +0530 Tue, 16 Mar 2021 08:44:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294018 The Tribunal concluded that the penalty under Section 271(1)(c) was not justified as the assessee had provided a bona fide explanation for the surrendered income, and the Revenue failed to prove any intentional concealment. Therefore, the penalty was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294018