https://www.taxtmi.com/caselaws?id=25709 The High Court upheld the Tribunal's decision to cancel the penalty of Rs. 16,500 imposed on the Hindu undivided family (HUF) under section 271(1)(c). The court found no evidence of concealment of income by the HUF, emphasizing the lack of fraud or gross/wilful neglect. The Explanation to section 271(1)(c) did not apply as the burden of proof was not met by the Department. The court ruled in favor of the assessee, citing the Tribunal's factual findings as conclusive and binding, ultimately dismissing the penalty without costs awarded due to the assessee's absence. en-us Wed, 15 Oct 1986 00:00:00 +0530 Sat, 30 Jan 2010 12:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25709 The High Court upheld the Tribunal's decision to cancel the penalty of Rs. 16,500 imposed on the Hindu undivided family (HUF) under section 271(1)(c). The court found no evidence of concealment of income by the HUF, emphasizing the lack of fraud or gross/wilful neglect. The Explanation to section 271(1)(c) did not apply as the burden of proof was not met by the Department. The court ruled in favor of the assessee, citing the Tribunal's factual findings as conclusive and binding, ultimately dismissing the penalty without costs awarded due to the assessee's absence. Case-Laws Income Tax Wed, 15 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25709