https://www.taxtmi.com/caselaws?id=37172 Penalty for concealment of income under section 28(1)(c) could not be sustained merely because the assessee's explanation for excess stock was rejected and the corresponding addition in assessment was upheld. In penalty proceedings, the issue had to be tested on a stricter footing because the burden lay on the department to independently prove concealment or furnishing of inaccurate particulars. The absence of further material showing that the amount represented concealed income was fatal to the penalty. Penalty was therefore not exigible, and cancellation of the penalty was upheld. en-us Wed, 26 Jul 1978 00:00:00 +0530 Sat, 27 Mar 2010 11:07:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37172 Penalty for concealment of income under section 28(1)(c) could not be sustained merely because the assessee's explanation for excess stock was rejected and the corresponding addition in assessment was upheld. In penalty proceedings, the issue had to be tested on a stricter footing because the burden lay on the department to independently prove concealment or furnishing of inaccurate particulars. The absence of further material showing that the amount represented concealed income was fatal to the penalty. Penalty was therefore not exigible, and cancellation of the penalty was upheld. Case-Laws Income Tax Wed, 26 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37172