https://www.taxtmi.com/caselaws?id=56251 The Tribunal allowed the appeal against the penalty imposed under s. 271(1)(c) for concealing income. The reconstruction of the balance sheet due to damaged account books did not conclusively prove deliberate concealment. The burden of proof was on the Revenue to establish additions to the capital account as Revenue receipts, which they failed to do. As there was no evidence of fraud or wilful neglect, the penalty imposition was deemed unwarranted, and the assessee's appeal was successful, leading to a refund of any penalty paid. en-us Sat, 20 Dec 1975 00:00:00 +0530 Thu, 02 Dec 2010 16:42:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56251 The Tribunal allowed the appeal against the penalty imposed under s. 271(1)(c) for concealing income. The reconstruction of the balance sheet due to damaged account books did not conclusively prove deliberate concealment. The burden of proof was on the Revenue to establish additions to the capital account as Revenue receipts, which they failed to do. As there was no evidence of fraud or wilful neglect, the penalty imposition was deemed unwarranted, and the assessee's appeal was successful, leading to a refund of any penalty paid. Case-Laws Income Tax Sat, 20 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56251