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2012 (4) TMI 338 - KARNATAKA HIGH COURTPenalty u/s 271 - Whether the appellate authorities were right in holding that the imposition, of penalty by the assessing authority in exercise of power under Sec. 271 (1)(c) of the IT Act 1961 is after satisfying himself that the non-disclosure of income warrants imposition of penalty - held that:- the assessee had filed a return and had disclosed the income. However, later the assessee did file another return in response to the notice issued under Section 148 of the Act and in this return what had not been shown as income earlier but claimed as a cash credit was offered as income. The assessment was concluded on such premises. -In a situation where the assessee admits that a return which had been filed earlier did not disclose a true or full income, which is the case in the present situation, does not warrant proof or burden on the revenue to prove things, as it is well settled legal principle that any proof and manner of proof are all not required when there is an admission. Proof is required where it becomes a contentions issue and person asserting is required to make good his version. But in a situation where it is not contested, but admitted, production of proof is not necessary nor warranted in law. - both the appellate commissioner and the tribunal erred In setting aside the order of the assessing officer levying penalty - Decided against the assessee.
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