https://www.taxtmi.com/caselaws?id=71224 The Tribunal upheld the penalty under section 271(1)(c) imposed on the assessee for furnishing inaccurate particulars of income. It found that the assessee deliberately failed to disclose commission payments to its partner's proprietary concerns, leading to tax evasion. The Tribunal determined that the penalty was justified, overturning the CIT(A)'s decision to delete the penalty. The Tribunal emphasized that the penalty was for inaccurate particulars of income, not concealment, and that the assessee had ample opportunity to present its case. en-us Fri, 28 Apr 2000 00:00:00 +0530 Fri, 22 Apr 2011 10:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71224 The Tribunal upheld the penalty under section 271(1)(c) imposed on the assessee for furnishing inaccurate particulars of income. It found that the assessee deliberately failed to disclose commission payments to its partner's proprietary concerns, leading to tax evasion. The Tribunal determined that the penalty was justified, overturning the CIT(A)'s decision to delete the penalty. The Tribunal emphasized that the penalty was for inaccurate particulars of income, not concealment, and that the assessee had ample opportunity to present its case. Case-Laws Income Tax Fri, 28 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71224