https://www.taxtmi.com/caselaws?id=61208 The Tribunal upheld the Appellate Assistant Commissioner's decision to cancel the penalty imposed under section 271(1)(c) for concealment of income. The Tribunal emphasized that while additions may be warranted in the case of cash credits, rejecting the assessee's explanation is not sufficient to justify a penalty for concealment. It was noted that the burden of proof lies with the Revenue to establish deliberate concealment or furnishing of inaccurate particulars, leading to the dismissal of the Revenue's appeal. en-us Thu, 17 Jun 1982 00:00:00 +0530 Tue, 11 Jan 2011 13:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61208 The Tribunal upheld the Appellate Assistant Commissioner's decision to cancel the penalty imposed under section 271(1)(c) for concealment of income. The Tribunal emphasized that while additions may be warranted in the case of cash credits, rejecting the assessee's explanation is not sufficient to justify a penalty for concealment. It was noted that the burden of proof lies with the Revenue to establish deliberate concealment or furnishing of inaccurate particulars, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 17 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61208