https://www.taxtmi.com/caselaws?id=120122 The Tribunal upheld the penalties imposed under section 271(1)(c), confirming the Assessing Officer's proper satisfaction for initiating penalty proceedings, justified timing of penalty orders post-Tribunal decision, non-applicability of Explanation 5, valid consideration of sundry debtors, and substantiated additions based on seized material. The appeals were dismissed, affirming the penalties on various grounds. en-us Wed, 28 Jun 2006 00:00:00 +0530 Tue, 17 Jul 2012 10:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120122 The Tribunal upheld the penalties imposed under section 271(1)(c), confirming the Assessing Officer's proper satisfaction for initiating penalty proceedings, justified timing of penalty orders post-Tribunal decision, non-applicability of Explanation 5, valid consideration of sundry debtors, and substantiated additions based on seized material. The appeals were dismissed, affirming the penalties on various grounds. Case-Laws Income Tax Wed, 28 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120122