https://www.taxtmi.com/caselaws?id=38300 The High Court upheld the penalty order imposed for deliberate income concealment, emphasizing the department's duty to prove cash credits as concealed income. The Court noted conflicting views on the department's duty when an admission is made by the assessee but ultimately ruled in favor of the revenue. The matter was remanded to the Tribunal to determine if the penalty could be retained only for the specific amount admitted by the assessee as undisclosed income. en-us Mon, 02 Aug 1976 00:00:00 +0530 Mon, 05 Apr 2010 13:36:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38300 The High Court upheld the penalty order imposed for deliberate income concealment, emphasizing the department's duty to prove cash credits as concealed income. The Court noted conflicting views on the department's duty when an admission is made by the assessee but ultimately ruled in favor of the revenue. The matter was remanded to the Tribunal to determine if the penalty could be retained only for the specific amount admitted by the assessee as undisclosed income. Case-Laws Income Tax Mon, 02 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38300