https://www.taxtmi.com/caselaws?id=56618 The Tribunal upheld the imposition of penalty on the assessee for concealment of income under section 271(1)(c), rejecting the argument that no penalty could be imposed if the total income was nil. The Tribunal found that the assessee failed to prove that the discrepancies were not due to fraud or neglect. The Tribunal upheld additions made by the Income Tax Officer for under-production and reduced the penalty for certain expenses. The appeals were partly allowed. en-us Thu, 28 Jun 1990 00:00:00 +0530 Sat, 04 Dec 2010 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56618 The Tribunal upheld the imposition of penalty on the assessee for concealment of income under section 271(1)(c), rejecting the argument that no penalty could be imposed if the total income was nil. The Tribunal found that the assessee failed to prove that the discrepancies were not due to fraud or neglect. The Tribunal upheld additions made by the Income Tax Officer for under-production and reduced the penalty for certain expenses. The appeals were partly allowed. Case-Laws Income Tax Thu, 28 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56618