https://www.taxtmi.com/caselaws?id=70750 The Tribunal upheld penalties under section 271(1)(c) in a case involving assessments reopened under section 143(2)(b). The penalties were imposed based on additional income disclosed in revised returns, despite explanations provided by the assessees. The Tribunal found that the revenue had sufficiently proven concealment, leading to the imposition of minimum penalties. As a result, the assessees' appeals were dismissed, and the departmental appeals were allowed with reduced penalties. en-us Wed, 15 Feb 1989 00:00:00 +0530 Mon, 13 Jun 2011 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70750 The Tribunal upheld penalties under section 271(1)(c) in a case involving assessments reopened under section 143(2)(b). The penalties were imposed based on additional income disclosed in revised returns, despite explanations provided by the assessees. The Tribunal found that the revenue had sufficiently proven concealment, leading to the imposition of minimum penalties. As a result, the assessees' appeals were dismissed, and the departmental appeals were allowed with reduced penalties. Case-Laws Income Tax Wed, 15 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70750