https://www.taxtmi.com/caselaws?id=26599 The court ruled in favor of the assessee, holding that the imposition of penalty under section 271(1)(c) of the Income-tax Act, 1961, and the Explanation thereto was not justified. The court found that the assessee had successfully discharged the initial burden of proof, and the Revenue failed to establish concealment of income. Consequently, the penalty was cancelled, and the court's decision favored the assessee against the Revenue. en-us Fri, 28 Mar 1986 00:00:00 +0530 Sat, 06 Feb 2010 12:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26599 The court ruled in favor of the assessee, holding that the imposition of penalty under section 271(1)(c) of the Income-tax Act, 1961, and the Explanation thereto was not justified. The court found that the assessee had successfully discharged the initial burden of proof, and the Revenue failed to establish concealment of income. Consequently, the penalty was cancelled, and the court's decision favored the assessee against the Revenue. Case-Laws Income Tax Fri, 28 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26599