https://www.taxtmi.com/caselaws?id=66861 The Tribunal upheld penalties imposed under section 271(1)(c) of the Income-tax Act, 1961 by the CIT(A), dismissing appeals against penalty orders issued by the ITO. The penalties were confirmed for failure to file income tax returns within the specified period, with the Tribunal emphasizing that Explanation 3 aligns with the main section's intent to penalize tax evasion. Defenses raised by the assessees, including lack of intent to evade taxes and reliance on deducted tax at source, were rejected. The Tribunal held that findings in assessment proceedings do not conclusively apply to penalty proceedings and maintained the penalties based on the evidence presented. en-us Tue, 04 Sep 1990 00:00:00 +0530 Mon, 07 Mar 2011 17:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66861 The Tribunal upheld penalties imposed under section 271(1)(c) of the Income-tax Act, 1961 by the CIT(A), dismissing appeals against penalty orders issued by the ITO. The penalties were confirmed for failure to file income tax returns within the specified period, with the Tribunal emphasizing that Explanation 3 aligns with the main section's intent to penalize tax evasion. Defenses raised by the assessees, including lack of intent to evade taxes and reliance on deducted tax at source, were rejected. The Tribunal held that findings in assessment proceedings do not conclusively apply to penalty proceedings and maintained the penalties based on the evidence presented. Case-Laws Income Tax Tue, 04 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66861