https://www.taxtmi.com/caselaws?id=28163 The High Court affirmed the Tribunal's decision that there was insufficient evidence to prove the assessees had suppressed stocks or concealed income. Penalties under section 271(1)(c) of the I.T. Act were cancelled due to lack of proof of concealment. The court awarded costs of Rs. 500 to the assessees. en-us Tue, 22 Dec 1981 00:00:00 +0530 Fri, 19 Feb 2010 13:35:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28163 The High Court affirmed the Tribunal's decision that there was insufficient evidence to prove the assessees had suppressed stocks or concealed income. Penalties under section 271(1)(c) of the I.T. Act were cancelled due to lack of proof of concealment. The court awarded costs of Rs. 500 to the assessees. Case-Laws Income Tax Tue, 22 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28163