https://www.taxtmi.com/caselaws?id=38718 The High Court ruled in favor of the assessee, holding that the assessee was not liable for a penalty under Section 271(1)(c) of the Income-tax Act, 1961. The court found that the department failed to establish the applicability of the Explanation to Section 271(1)(c) and did not provide evidence of concealment or inaccurate particulars, leading to the cancellation of the penalty imposed by the tax authorities. The court also awarded costs to the assessee amounting to Rs. 200. en-us Mon, 05 Aug 1974 00:00:00 +0530 Thu, 08 Apr 2010 15:22:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38718 The High Court ruled in favor of the assessee, holding that the assessee was not liable for a penalty under Section 271(1)(c) of the Income-tax Act, 1961. The court found that the department failed to establish the applicability of the Explanation to Section 271(1)(c) and did not provide evidence of concealment or inaccurate particulars, leading to the cancellation of the penalty imposed by the tax authorities. The court also awarded costs to the assessee amounting to Rs. 200. Case-Laws Income Tax Mon, 05 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38718