https://www.taxtmi.com/caselaws?id=56552 The Tribunal canceled penalties under Sections 271(1)(c) and 271(1)(a) of the IT Act as the Department failed to establish a direct link between the balance sheet and the assessee. The burden of proof was not adequately shifted back to the Department, and the delay in filing the return was found to be due to a bona fide belief that income was below the taxable limit. Both penalties were canceled, and the assessee's appeals were allowed. en-us Mon, 10 Feb 2003 00:00:00 +0530 Sat, 04 Dec 2010 14:03:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56552 The Tribunal canceled penalties under Sections 271(1)(c) and 271(1)(a) of the IT Act as the Department failed to establish a direct link between the balance sheet and the assessee. The burden of proof was not adequately shifted back to the Department, and the delay in filing the return was found to be due to a bona fide belief that income was below the taxable limit. Both penalties were canceled, and the assessee's appeals were allowed. Case-Laws Income Tax Mon, 10 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56552