https://www.taxtmi.com/caselaws?id=27249 The High Court affirmed the Tribunal's decision to uphold the penalty under section 271(1)(c) of the Act against the assessee. The Court agreed with the Tribunal's findings that the assessee failed to prove non-fraudulent or non-negligent conduct regarding the concealment of income. The Court upheld the penalty, stating that the circumstances indicated a deliberate attempt to conceal income or provide inaccurate particulars. The assessee was directed to bear the costs of the reference. en-us Mon, 28 Jan 1985 00:00:00 +0530 Thu, 11 Feb 2010 16:51:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27249 The High Court affirmed the Tribunal's decision to uphold the penalty under section 271(1)(c) of the Act against the assessee. The Court agreed with the Tribunal's findings that the assessee failed to prove non-fraudulent or non-negligent conduct regarding the concealment of income. The Court upheld the penalty, stating that the circumstances indicated a deliberate attempt to conceal income or provide inaccurate particulars. The assessee was directed to bear the costs of the reference. Case-Laws Income Tax Mon, 28 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27249