9911796707
TMI Blog1981 (3) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... from the Tribunal's order dt. 16th April, 1980 in ITA No. 1840/JP/79, to the High Court for its opinion: " Whether on the facts and circumstances of the case, the assessee could be said to have deliberately concealed the particulars of his income and in the alternative whether the case was hit by the provisions of Expln. to s. 271(1)(c) of the IT Act, 1961?" 2. Inasmuch as, in our opinion, no qu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced the penalty to Rs. 15,000. On further appeal to the Tribunal by the assessee, it was held that Expln. to s. 271(1)(c) was applicable to the case and, therefore, it was for the assessee to show that there was no gross or fraud or wilful neglect on its part. The Tribunal ultimately held that there was no conscious concealment of income on the part of the assessee by virtue of fraud or gross or w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fraud or gross or wilful neglect on the part of the assessee. His argument is that when Expln. to s. 271(1)(c) is applicable, it is presumed that there was concealment by fraud or gross or wilful neglect on the part of the assessee. Penalty can be cancelled in a case where Explanation is applicable only when it is found that the assessee successfully discharged his negative burden that concealment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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