HC slaps concealment penalty as assessee had given fake address of donor and had failed to prove his

IT: Where assessee in support of gift received from donor filed a copy of his residential address which was found to be false, and, moreover, he also failed to prove that gift in question was made by executing a valid gift deed, assessee's case fell under Explanation 1(B) to section 271(1)(c) and, therefore, impugned penalty order passed on account of deemed concealment of income was to be upheld