1979 (10) TMI 115 - AT - Income Tax

Summary

The ITAT MADRAS-B upheld the cancellation of a penalty imposed on an assessee for concealing income related to a house purchased in the name of the assessee's wife. The Tribunal found that the addition to the income was based on a lack of conclusive evidence rather than intentional concealment. The departmental appeal was dismissed. (Case Citation: 1979 (10) TMI 115 - ITAT MADRAS-B)