https://www.taxtmi.com/caselaws?id=26237 The High Court clarified that the burden of proving concealment of income for penalty imposition lies with the assessee, not the Revenue, post-amendment to section 271(1)(c) of the Income-tax Act, 1961. The Full Bench emphasized that the Tribunal erred in placing the onus on the Department to prove unaccounted profits. The Explanation to section 271(1)(c) raises legal presumptions against the assessee, requiring demonstration of no failure in returning correct income. The Tribunal's reliance on mens rea for penalty imposition was deemed incorrect, and the matter was remanded for reassessment in line with correct legal principles. en-us Thu, 09 May 1985 00:00:00 +0530 Wed, 03 Feb 2010 16:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26237 The High Court clarified that the burden of proving concealment of income for penalty imposition lies with the assessee, not the Revenue, post-amendment to section 271(1)(c) of the Income-tax Act, 1961. The Full Bench emphasized that the Tribunal erred in placing the onus on the Department to prove unaccounted profits. The Explanation to section 271(1)(c) raises legal presumptions against the assessee, requiring demonstration of no failure in returning correct income. The Tribunal's reliance on mens rea for penalty imposition was deemed incorrect, and the matter was remanded for reassessment in line with correct legal principles. Case-Laws Income Tax Thu, 09 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26237