https://www.taxtmi.com/caselaws?id=57992 Penalty for concealment was not justified where the assessee agreed to an addition of commission income merely to buy peace and avoid litigation, but had produced letters, cheque evidence, a stamped receipt, accounts and other supporting material showing the payment claim. Penalty proceedings are independent of assessment, and an assessed addition does not by itself prove concealment or furnishing of inaccurate particulars. The Revenue was required to independently establish conscious concealment on the totality of circumstances, and that burden was not met on the facts. The deletion of penalty under section 271(1)(c) was therefore upheld in favour of the assessee. en-us Fri, 04 May 1990 00:00:00 +0530 Wed, 15 Dec 2010 17:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57992 Penalty for concealment was not justified where the assessee agreed to an addition of commission income merely to buy peace and avoid litigation, but had produced letters, cheque evidence, a stamped receipt, accounts and other supporting material showing the payment claim. Penalty proceedings are independent of assessment, and an assessed addition does not by itself prove concealment or furnishing of inaccurate particulars. The Revenue was required to independently establish conscious concealment on the totality of circumstances, and that burden was not met on the facts. The deletion of penalty under section 271(1)(c) was therefore upheld in favour of the assessee. Case-Laws Income Tax Fri, 04 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57992