https://www.taxtmi.com/caselaws?id=29399 The High Court ruled against the revenue in a case involving the imposition of a penalty under section 271(1)(c) of the Income-tax Act, 1961. The court held that the penalty was not justified as the charge of concealment or furnishing inaccurate particulars of income was not independently established. Emphasizing the importance of proving such conduct before invoking the Explanation to section 271(1)(c), the court highlighted the necessity of meeting specific evidentiary standards. The decision underscored the requirement of demonstrating conscious concealment or deliberate furnishing of inaccurate particulars before penalizing an assessee, as per legal provisions and precedents. en-us Sat, 17 Jan 1981 00:00:00 +0530 Fri, 12 Mar 2010 15:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29399 The High Court ruled against the revenue in a case involving the imposition of a penalty under section 271(1)(c) of the Income-tax Act, 1961. The court held that the penalty was not justified as the charge of concealment or furnishing inaccurate particulars of income was not independently established. Emphasizing the importance of proving such conduct before invoking the Explanation to section 271(1)(c), the court highlighted the necessity of meeting specific evidentiary standards. The decision underscored the requirement of demonstrating conscious concealment or deliberate furnishing of inaccurate particulars before penalizing an assessee, as per legal provisions and precedents. Case-Laws Income Tax Sat, 17 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29399