https://www.taxtmi.com/caselaws?id=57143 The Income-tax Appellate Tribunal (ITAT) allowed the appeal filed by the assessee and canceled the penalty of Rs. 36,352 imposed under section 271(1)(c) of the Income Tax Act. The ITAT held that the burden of proving concealment rested with the revenue, which failed to establish concealment in this case. The explanation provided by the assessee, though deemed unsatisfactory by lower authorities, did not amount to concealment of income. The ITAT emphasized that the findings supporting the addition to the income were insufficient to prove concealment, leading to the cancellation of the penalty. en-us Wed, 25 Feb 1981 00:00:00 +0530 Wed, 08 Dec 2010 16:01:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57143 The Income-tax Appellate Tribunal (ITAT) allowed the appeal filed by the assessee and canceled the penalty of Rs. 36,352 imposed under section 271(1)(c) of the Income Tax Act. The ITAT held that the burden of proving concealment rested with the revenue, which failed to establish concealment in this case. The explanation provided by the assessee, though deemed unsatisfactory by lower authorities, did not amount to concealment of income. The ITAT emphasized that the findings supporting the addition to the income were insufficient to prove concealment, leading to the cancellation of the penalty. Case-Laws Income Tax Wed, 25 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57143