https://www.taxtmi.com/caselaws?id=59750 The Tribunal allowed both appeals, canceling penalties imposed under section 271(1)(c) of the Income-tax Act for alleged concealment of income related to unproved cash credits. Considering the assessee's mental and physical disabilities, the Tribunal found no intent to conceal income, deeming the explanation bona fide with full disclosure of facts. Therefore, the penalties were canceled, and refunds were directed if already collected. en-us Fri, 14 Feb 1992 00:00:00 +0530 Fri, 31 Dec 2010 18:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59750 The Tribunal allowed both appeals, canceling penalties imposed under section 271(1)(c) of the Income-tax Act for alleged concealment of income related to unproved cash credits. Considering the assessee's mental and physical disabilities, the Tribunal found no intent to conceal income, deeming the explanation bona fide with full disclosure of facts. Therefore, the penalties were canceled, and refunds were directed if already collected. Case-Laws Income Tax Fri, 14 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59750