https://www.taxtmi.com/caselaws?id=36349 The High Court held that the Tribunal erred in canceling penalties imposed for the assessment years 1965-66, 1966-67, and 1968-69 under section 271(1)(c) of the Income-tax Act. The Court found that the assessee did not discharge the burden of proof under the Explanation to section 271(1)(c) regarding the shortfall in returned income compared to assessed income. The matter was remanded for reconsideration in light of the correct legal principles. The Court directed each party to bear their own costs. en-us Wed, 10 Sep 1980 00:00:00 +0530 Sat, 20 Mar 2010 18:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36349 The High Court held that the Tribunal erred in canceling penalties imposed for the assessment years 1965-66, 1966-67, and 1968-69 under section 271(1)(c) of the Income-tax Act. The Court found that the assessee did not discharge the burden of proof under the Explanation to section 271(1)(c) regarding the shortfall in returned income compared to assessed income. The matter was remanded for reconsideration in light of the correct legal principles. The Court directed each party to bear their own costs. Case-Laws Income Tax Wed, 10 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36349