https://www.taxtmi.com/caselaws?id=39114 The text addresses the burden of proof under the Explanation to the penalty provision for concealment or furnishing inaccurate particulars in income-tax assessments. It states that the statutory presumption covers both conscious concealment and the assessed income attribution; where the assessee adduces materials showing correct accounts, absence of defects, and inability to maintain day-to-day manufacturing or stock records, the onus shifts and the department must produce additional corroborative material to attribute underreporting to fraud or gross wilful neglect. Applying these principles, the impugned penalty was set aside due to lack of material proving deliberate concealment or defective accounts. en-us Fri, 02 Aug 1974 00:00:00 +0530 Thu, 15 Jan 2026 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39114 The text addresses the burden of proof under the Explanation to the penalty provision for concealment or furnishing inaccurate particulars in income-tax assessments. It states that the statutory presumption covers both conscious concealment and the assessed income attribution; where the assessee adduces materials showing correct accounts, absence of defects, and inability to maintain day-to-day manufacturing or stock records, the onus shifts and the department must produce additional corroborative material to attribute underreporting to fraud or gross wilful neglect. Applying these principles, the impugned penalty was set aside due to lack of material proving deliberate concealment or defective accounts. Case-Laws Income Tax Fri, 02 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39114