https://www.taxtmi.com/caselaws?id=29505 Penalty under section 28(1)(c) was justified where the assessee knowingly entered cash credits in the names of petty employees and later sought to support those entries with false loan documents. The High Court distinguished cases where penalty depended only on rejection of an explanation, holding that the assessee's own books, conduct, and unproved explanation furnished sufficient material to show concealment and deliberate furnishing of inaccurate particulars. The penalty was therefore upheld against the assessee. en-us Wed, 30 Aug 1978 00:00:00 +0530 Sat, 13 Mar 2010 13:38:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29505 Penalty under section 28(1)(c) was justified where the assessee knowingly entered cash credits in the names of petty employees and later sought to support those entries with false loan documents. The High Court distinguished cases where penalty depended only on rejection of an explanation, holding that the assessee's own books, conduct, and unproved explanation furnished sufficient material to show concealment and deliberate furnishing of inaccurate particulars. The penalty was therefore upheld against the assessee. Case-Laws Income Tax Wed, 30 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29505