https://www.taxtmi.com/caselaws?id=39570 In penalty proceedings for concealment, an assessee's agreement to a higher assessment was not, by itself, proof of concealment or deliberate furnishing of inaccurate particulars. The Tribunal examined the surrounding circumstances, including the possibility that the assessee accepted the addition to purchase peace, and held that the revenue had not discharged the burden of proving deliberate concealment by cogent evidence. Precedents relied on by the revenue were distinguished because they involved clear admissions of concealment, which were absent here. The penalty cancellation was upheld, with the issue answered against the revenue. en-us Mon, 15 Sep 1975 00:00:00 +0530 Sat, 17 Apr 2010 13:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39570 In penalty proceedings for concealment, an assessee's agreement to a higher assessment was not, by itself, proof of concealment or deliberate furnishing of inaccurate particulars. The Tribunal examined the surrounding circumstances, including the possibility that the assessee accepted the addition to purchase peace, and held that the revenue had not discharged the burden of proving deliberate concealment by cogent evidence. Precedents relied on by the revenue were distinguished because they involved clear admissions of concealment, which were absent here. The penalty cancellation was upheld, with the issue answered against the revenue. Case-Laws Income Tax Mon, 15 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39570