https://www.taxtmi.com/caselaws?id=28403 The High Court upheld the Tribunal's decision to cancel the penalty order under section 271(1)(c) of the Income-tax Act, 1961. The Court emphasized that the burden of proving concealment rests with the Revenue. The conditional nature of the admission in the revised return and the lack of evidence beyond it supported the cancellation of penalties. The Court ruled in favor of the assessee, citing previous case law and affirming the justification for canceling the penalty order. en-us Tue, 21 Dec 1982 00:00:00 +0530 Mon, 22 Feb 2010 12:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28403 The High Court upheld the Tribunal's decision to cancel the penalty order under section 271(1)(c) of the Income-tax Act, 1961. The Court emphasized that the burden of proving concealment rests with the Revenue. The conditional nature of the admission in the revised return and the lack of evidence beyond it supported the cancellation of penalties. The Court ruled in favor of the assessee, citing previous case law and affirming the justification for canceling the penalty order. Case-Laws Income Tax Tue, 21 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28403