https://www.taxtmi.com/caselaws?id=71840 The Tribunal upheld the penalty under section 271(1)(c) of the IT Act, 1961, amounting to Rs. 1,00,832, imposed on the registered firm for undisclosed cash credits. The concealment of income was detected before the Amnesty Scheme was invoked, leading to the rejection of the penalty waiver claim. The Tribunal found the cited case laws for penalty waiver inapplicable due to the different factual circumstances. The appeal was dismissed, affirming the penalty as justified and declining to interfere with the authorities' decision. en-us Fri, 22 Jun 2001 00:00:00 +0530 Wed, 27 Apr 2011 13:37:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71840 The Tribunal upheld the penalty under section 271(1)(c) of the IT Act, 1961, amounting to Rs. 1,00,832, imposed on the registered firm for undisclosed cash credits. The concealment of income was detected before the Amnesty Scheme was invoked, leading to the rejection of the penalty waiver claim. The Tribunal found the cited case laws for penalty waiver inapplicable due to the different factual circumstances. The appeal was dismissed, affirming the penalty as justified and declining to interfere with the authorities' decision. Case-Laws Income Tax Fri, 22 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71840