https://www.taxtmi.com/caselaws?id=38719 The High Court upheld the penalties imposed on the assessee for the assessment years 1958-59 and 1959-60, finding that there was sufficient evidence of conscious concealment and deliberate avoidance of assessable income. The court emphasized the burden of proof on the revenue in penalty proceedings and limited its scope of interference under section 256(1) of the Income-tax Act, 1961. The penalties were deemed justified, and the revenue was awarded costs. en-us Wed, 15 Dec 1976 00:00:00 +0530 Thu, 08 Apr 2010 15:25:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38719 The High Court upheld the penalties imposed on the assessee for the assessment years 1958-59 and 1959-60, finding that there was sufficient evidence of conscious concealment and deliberate avoidance of assessable income. The court emphasized the burden of proof on the revenue in penalty proceedings and limited its scope of interference under section 256(1) of the Income-tax Act, 1961. The penalties were deemed justified, and the revenue was awarded costs. Case-Laws Income Tax Wed, 15 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38719