https://www.taxtmi.com/caselaws?id=56636 The Tribunal upheld the imposition of a penalty under Section 271(1)(c) for the assessment year 1978-79, finding deliberate income concealment by the assessee related to unrecorded post parcels. The penalty was reduced to Rs. 77,790 from Rs. 1,21,920, considering evidence and arguments presented. The decision stressed the need for concrete evidence to support explanations and the relevance of the Explanation to Section 271(1)(c). en-us Fri, 05 Feb 1988 00:00:00 +0530 Mon, 06 Dec 2010 10:22:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56636 The Tribunal upheld the imposition of a penalty under Section 271(1)(c) for the assessment year 1978-79, finding deliberate income concealment by the assessee related to unrecorded post parcels. The penalty was reduced to Rs. 77,790 from Rs. 1,21,920, considering evidence and arguments presented. The decision stressed the need for concrete evidence to support explanations and the relevance of the Explanation to Section 271(1)(c). Case-Laws Income Tax Fri, 05 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56636