https://www.taxtmi.com/caselaws?id=36578 The High Court clarified the legal requirements for imposing a penalty under Section 271(1)(c) of the Income Tax Act, emphasizing that the focus should be on whether there was concealment or furnishing of inaccurate income particulars, rather than offsetting discrepancies between different income sources. The court directed a fresh disposal of the case by the Appellate Tribunal, criticizing the Tribunal's approach for not aligning with the legal principles of the Act. en-us Wed, 05 Dec 1979 00:00:00 +0530 Tue, 23 Mar 2010 12:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36578 The High Court clarified the legal requirements for imposing a penalty under Section 271(1)(c) of the Income Tax Act, emphasizing that the focus should be on whether there was concealment or furnishing of inaccurate income particulars, rather than offsetting discrepancies between different income sources. The court directed a fresh disposal of the case by the Appellate Tribunal, criticizing the Tribunal's approach for not aligning with the legal principles of the Act. Case-Laws Income Tax Wed, 05 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36578