https://www.taxtmi.com/caselaws?id=38939 The High Court upheld the penalty imposed u/s 271(1)(c) of the Income-tax Act, 1961 on an individual assessee for concealing income or furnishing inaccurate particulars. The Court found evidence, including lifestyle and income sources, supporting the conclusion of concealment. Emphasizing the need for circumstances pointing to deliberate concealment, the Court noted discrepancies in the assessee's explanations and societal impact of such actions. The penalty of Rs. 6,061 was affirmed in favor of the revenue, ruling against the assessee. en-us Mon, 27 Sep 1976 00:00:00 +0530 Sat, 20 Feb 2016 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38939 The High Court upheld the penalty imposed u/s 271(1)(c) of the Income-tax Act, 1961 on an individual assessee for concealing income or furnishing inaccurate particulars. The Court found evidence, including lifestyle and income sources, supporting the conclusion of concealment. Emphasizing the need for circumstances pointing to deliberate concealment, the Court noted discrepancies in the assessee's explanations and societal impact of such actions. The penalty of Rs. 6,061 was affirmed in favor of the revenue, ruling against the assessee. Case-Laws Income Tax Mon, 27 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38939