https://www.taxtmi.com/caselaws?id=25296 The High Court of Madhya Pradesh held that the Tribunal erred in law by deleting the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The burden of proof regarding concealment of income or furnishing inaccurate particulars rested on the assessee, and the court emphasized that the law applicable at the time of the wrongful act determined the penalty. The case was remanded to the Tribunal for reconsideration based on the court's findings, ruling against the assessee in favor of the Department without awarding costs due to the lack of representation by the assessee. en-us Mon, 04 Jan 1988 00:00:00 +0530 Wed, 27 Jan 2010 17:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25296 The High Court of Madhya Pradesh held that the Tribunal erred in law by deleting the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The burden of proof regarding concealment of income or furnishing inaccurate particulars rested on the assessee, and the court emphasized that the law applicable at the time of the wrongful act determined the penalty. The case was remanded to the Tribunal for reconsideration based on the court's findings, ruling against the assessee in favor of the Department without awarding costs due to the lack of representation by the assessee. Case-Laws Income Tax Mon, 04 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25296