https://www.taxtmi.com/caselaws?id=57521 The penalties imposed under section 271(1)(c) for amounts totaling Rs. 8,40,000, Rs. 6,29,170, and Rs. 5,41,484 for three respective years were canceled. The Tribunal found discrepancies in the accounts but concluded that the Department failed to provide sufficient evidence of income concealment. The penalties were annulled, and the appeals by the assessee were upheld. en-us Thu, 11 Jul 1996 00:00:00 +0530 Fri, 10 Dec 2010 15:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57521 The penalties imposed under section 271(1)(c) for amounts totaling Rs. 8,40,000, Rs. 6,29,170, and Rs. 5,41,484 for three respective years were canceled. The Tribunal found discrepancies in the accounts but concluded that the Department failed to provide sufficient evidence of income concealment. The penalties were annulled, and the appeals by the assessee were upheld. Case-Laws Income Tax Thu, 11 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57521