1993 (2) TMI 153 - AT - Income Tax

Summary

The ITAT Jaipur canceled the penalty of Rs. 8,105 imposed under s. 271(1)(c) of the IT Act, 1961 on the assessee for concealing income. The assessee's explanation, supported by evidence of earning income in Calcutta and saving money, led to the cancellation of the penalty. The appeal was allowed. [Case: Appellate Tribunal ITAT Jaipur, Citation: 1993 (2) TMI 153 - ITAT JAIPUR]