https://www.taxtmi.com/caselaws?id=62451 The appeal was dismissed, affirming the imposition of a penalty of Rs. 5,000 under section 271(1)(c) of the Income Tax Act. The Tribunal upheld the decision of the Appellate Authority Commissioner, finding that the assessee attempted to defraud the Revenue by concealing income from the share of a firm and another source. The Tribunal concluded that the maximum penalty was justified due to the undisputed concealment of income and lack of evidence regarding instructions to include the concealed incomes, indicating an intent to defraud the Revenue. en-us Thu, 27 Jul 1978 00:00:00 +0530 Wed, 19 Jan 2011 18:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62451 The appeal was dismissed, affirming the imposition of a penalty of Rs. 5,000 under section 271(1)(c) of the Income Tax Act. The Tribunal upheld the decision of the Appellate Authority Commissioner, finding that the assessee attempted to defraud the Revenue by concealing income from the share of a firm and another source. The Tribunal concluded that the maximum penalty was justified due to the undisputed concealment of income and lack of evidence regarding instructions to include the concealed incomes, indicating an intent to defraud the Revenue. Case-Laws Income Tax Thu, 27 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62451