https://www.taxtmi.com/caselaws?id=34301 Penalty for concealment under Section 271(1)(c) may be sustained where an assessee fails to provide a substantiated and bona fide explanation for an addition or disallowance. Explanation 1 treats the added amount as income in respect of which particulars were concealed when the explanation is absent, unsubstantiated or not bona fide. The penalty operates as a civil liability; proof of wilful concealment is not essential. Where claimed business expenditure is found excessive or inadmissible and no credible explanation supports the claim, the concealment penalty may validly follow. en-us Tue, 07 Jul 2009 00:00:00 +0530 Mon, 10 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34301 Penalty for concealment under Section 271(1)(c) may be sustained where an assessee fails to provide a substantiated and bona fide explanation for an addition or disallowance. Explanation 1 treats the added amount as income in respect of which particulars were concealed when the explanation is absent, unsubstantiated or not bona fide. The penalty operates as a civil liability; proof of wilful concealment is not essential. Where claimed business expenditure is found excessive or inadmissible and no credible explanation supports the claim, the concealment penalty may validly follow. Case-Laws Income Tax Tue, 07 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34301