https://www.taxtmi.com/caselaws?id=26439 The court upheld the Tribunal's decision to cancel the penalty imposed on the assessee for undisclosed income. The court found the explanation provided by the assessee acceptable, relieving them of the penalty. The court emphasized that the Tribunal's factual findings were binding and that the burden placed on the assessee by the Income-tax Act's Explanation was discharged. en-us Wed, 15 Jan 1986 00:00:00 +0530 Fri, 05 Feb 2010 10:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26439 The court upheld the Tribunal's decision to cancel the penalty imposed on the assessee for undisclosed income. The court found the explanation provided by the assessee acceptable, relieving them of the penalty. The court emphasized that the Tribunal's factual findings were binding and that the burden placed on the assessee by the Income-tax Act's Explanation was discharged. Case-Laws Income Tax Wed, 15 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26439