https://www.taxtmi.com/caselaws?id=28891 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The Court found that the assessee had discharged the initial burden regarding the penalty, and the Department failed to provide sufficient evidence of conscious concealment or deliberate furnishing of inaccurate particulars of income. The Court agreed with the Tribunal that the mere failure to challenge the addition of cash credits did not establish fraud or wilful neglect. As a result, the Court affirmed the Tribunal's decision to delete the penalty, with no costs awarded. en-us Tue, 04 Jan 1983 00:00:00 +0530 Mon, 08 Mar 2010 14:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28891 The High Court upheld the Tribunal's decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The Court found that the assessee had discharged the initial burden regarding the penalty, and the Department failed to provide sufficient evidence of conscious concealment or deliberate furnishing of inaccurate particulars of income. The Court agreed with the Tribunal that the mere failure to challenge the addition of cash credits did not establish fraud or wilful neglect. As a result, the Court affirmed the Tribunal's decision to delete the penalty, with no costs awarded. Case-Laws Income Tax Tue, 04 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28891