https://www.taxtmi.com/caselaws?id=39705 In penalty proceedings under section 28(1)(c) of the Indian Income-tax Act, 1922, the department had to prove that the disputed receipt was the assessee's income and that it was consciously concealed or inaccurately stated. An earlier assessment finding that the explanation was not believable did not, by itself, establish concealed income. As the Tribunal had not ignored admissible evidence or relevant circumstances, and its conclusion was not shown to be unreasonable or perverse, the penalty was held unsustainable in law and the issue was answered in favour of the assessee. en-us Thu, 08 Apr 1971 00:00:00 +0530 Mon, 19 Apr 2010 17:32:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39705 In penalty proceedings under section 28(1)(c) of the Indian Income-tax Act, 1922, the department had to prove that the disputed receipt was the assessee's income and that it was consciously concealed or inaccurately stated. An earlier assessment finding that the explanation was not believable did not, by itself, establish concealed income. As the Tribunal had not ignored admissible evidence or relevant circumstances, and its conclusion was not shown to be unreasonable or perverse, the penalty was held unsustainable in law and the issue was answered in favour of the assessee. Case-Laws Income Tax Thu, 08 Apr 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39705