https://www.taxtmi.com/article/detailed?id=11246 Penalty under Section 271(1)(c) was set aside because the income added to the assessee had already been offered to tax and assessed in the hands of another person; reliance was placed on authority that taxation of the same income in another entity is a relevant factor in deciding concealment, and therefore the tribunal directed deletion of the penalty. en-us Mon, 27 Mar 2023 09:11:41 +0530 Mon, 27 Mar 2023 09:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11246 Penalty under Section 271(1)(c) was set aside because the income added to the assessee had already been offered to tax and assessed in the hands of another person; reliance was placed on authority that taxation of the same income in another entity is a relevant factor in deciding concealment, and therefore the tribunal directed deletion of the penalty. Articles Income Tax Mon, 27 Mar 2023 09:11:41 +0530 https://www.taxtmi.com/article/detailed?id=11246