https://www.taxtmi.com/caselaws?id=37145 The Tribunal canceled the penalty imposed on the assessee under Section 271(1)(c) of the Income-tax Act, 1961, for concealment of income. The court emphasized that penalty proceedings require the revenue to prove concealment or furnishing of inaccurate particulars. The burden of proof lies on the revenue, and the assessee's admission alone does not justify penalty imposition without conclusive evidence of concealment. The court ruled in favor of the assessee, highlighting that the Explanation to Section 271(1)(c) shifts the burden to the assessee but does not relieve the revenue of its burden to prove concealment. en-us Fri, 29 Jun 1979 00:00:00 +0530 Fri, 26 Mar 2010 17:14:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37145 The Tribunal canceled the penalty imposed on the assessee under Section 271(1)(c) of the Income-tax Act, 1961, for concealment of income. The court emphasized that penalty proceedings require the revenue to prove concealment or furnishing of inaccurate particulars. The burden of proof lies on the revenue, and the assessee's admission alone does not justify penalty imposition without conclusive evidence of concealment. The court ruled in favor of the assessee, highlighting that the Explanation to Section 271(1)(c) shifts the burden to the assessee but does not relieve the revenue of its burden to prove concealment. Case-Laws Income Tax Fri, 29 Jun 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37145