https://www.taxtmi.com/caselaws?id=37428 The High Court held in favor of the revenue and against the assessee, stating that the Tribunal erred in canceling the penalty under section 271(1)(c) for concealment of income, regardless of the tax payable. The Court directed the Tribunal to reconsider the quantum of the penalty and pass appropriate orders accordingly. en-us Wed, 16 Aug 1978 00:00:00 +0530 Mon, 29 Mar 2010 16:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37428 The High Court held in favor of the revenue and against the assessee, stating that the Tribunal erred in canceling the penalty under section 271(1)(c) for concealment of income, regardless of the tax payable. The Court directed the Tribunal to reconsider the quantum of the penalty and pass appropriate orders accordingly. Case-Laws Income Tax Wed, 16 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37428