https://www.taxtmi.com/caselaws?id=202509 The court upheld the penalty imposed on the appellant for suppressed sales of bardana, as there was a valid finding of concealment of income. The court emphasized that penalty under Section 271(1)(c) can be levied if there is concealment or inaccuracy in income particulars, even without doubting the assessee's bonafides. The appellant's argument that rejection of the plea about the loss of bardana was insufficient to justify the penalty was dismissed, as there was a concurrent finding of concealment of income by the CIT(A) and the Tribunal. en-us Tue, 07 Dec 2010 00:00:00 +0530 Fri, 23 Sep 2011 08:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202509 The court upheld the penalty imposed on the appellant for suppressed sales of bardana, as there was a valid finding of concealment of income. The court emphasized that penalty under Section 271(1)(c) can be levied if there is concealment or inaccuracy in income particulars, even without doubting the assessee's bonafides. The appellant's argument that rejection of the plea about the loss of bardana was insufficient to justify the penalty was dismissed, as there was a concurrent finding of concealment of income by the CIT(A) and the Tribunal. Case-Laws Income Tax Tue, 07 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202509