1979 (10) TMI 67 - HC - Income Tax

Assessed Income, Assessment Proceedings, Fraud Or Gross Or Wilful Neglect, Income From Undisclosed Sources

Summary

The High Court of Allahabad upheld the penalty imposed on the assessee for concealment of income under section 271(1)(c) of the Income Tax Act. The Tribunal erred in canceling the penalty as the onus was on the assessee to prove no fraud or neglect in filing the return. The court ruled in favor of the department and against the assessee. No costs were awarded due to the absence of the assessee's representation.