https://www.taxtmi.com/caselaws?id=61917 The Tribunal upheld the penalty imposed under section 272A(1)(c) of the Income-tax Act, 1961, against the assessee for the assessment year 1990-91. The Tribunal found the Inspector's report, supported by identification marks on the rough cash books, more credible than the assessee's denial of their existence. Due to the apparent vested interest in not producing the rough cash books, the Tribunal deemed the penalty justified and dismissed the appeal, affirming the penalty imposed by the Assessing Officer and upheld by the CIT (Appeals). en-us Mon, 31 Jan 2000 00:00:00 +0530 Mon, 17 Jan 2011 10:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61917 The Tribunal upheld the penalty imposed under section 272A(1)(c) of the Income-tax Act, 1961, against the assessee for the assessment year 1990-91. The Tribunal found the Inspector's report, supported by identification marks on the rough cash books, more credible than the assessee's denial of their existence. Due to the apparent vested interest in not producing the rough cash books, the Tribunal deemed the penalty justified and dismissed the appeal, affirming the penalty imposed by the Assessing Officer and upheld by the CIT (Appeals). Case-Laws Income Tax Mon, 31 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61917