https://www.taxtmi.com/caselaws?id=37865 Penalty under section 271(1)(c) was upheld because the assessee failed to disclose income arising from the sale of a truck and gave no credible explanation for the omission. The Explanation to section 271(1)(c) operated against the assessee since the amount was not shown in the return or relevant disclosure column, and no affidavit or supporting evidence was produced to substantiate the claim of illiteracy. On the facts found, the omission was treated as gross negligence, and the finding of fraud was left undisturbed. The question was answered in the affirmative against the assessee. en-us Thu, 23 Mar 1978 00:00:00 +0530 Thu, 01 Apr 2010 15:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37865 Penalty under section 271(1)(c) was upheld because the assessee failed to disclose income arising from the sale of a truck and gave no credible explanation for the omission. The Explanation to section 271(1)(c) operated against the assessee since the amount was not shown in the return or relevant disclosure column, and no affidavit or supporting evidence was produced to substantiate the claim of illiteracy. On the facts found, the omission was treated as gross negligence, and the finding of fraud was left undisturbed. The question was answered in the affirmative against the assessee. Case-Laws Income Tax Thu, 23 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37865