AO levied concealment penalty for both cancellation of Registration and denial of exemption u/s.10(23C)(vi). Which was up held by the CIT(A). On appeal Tribunal held since AO while levying penalty for concealment had not come to finding as to whether assessee had concealed his income or furnished inaccurate particulars of income. AO while completing assessment had not recorded proper satisfaction as to which limb of section 271(1)(c) had not been fulfilled by assessee and consequently no proper show cause  was given to assessee before initiating penalty proceedings. Even otherwise, said satisfaction was recorded in respect of non-denial of exemption u/s 10(23C)(vi) and not in respect of other additions made by AO. Accordingly the penalty was deleted.  Confirming the levy of penalty the Tribunal held that, once expenditure was disallowed in hands of assessee for violation of clear cut provisions of Act, then issue of levy of penalty for concealment stood established and assessee was liable to same. Similarly where travelling expenses on Directors had been disallowed for want of it being for objects of Trust, levy of penalty for concealment stood established.   Appeal of the assessee is partly allowed. (AY. 2001-02 to 2004-05,  2006-07 to 2007-08)