https://www.taxtmi.com/caselaws?id=206962 The High Court upheld the imposition of the penalty under Section 271(1)(c) against the assessee, ruling that the deletion of the penalty by the Tribunal was not justified. The Court found the gift received to be bogus, indicating inaccurate particulars of income, and concluded that the assessee had concealed income details, making the penalty imposition valid. The Court referred to a previous judgment and held in favor of the Revenue, allowing the appeal. en-us Fri, 25 Feb 2011 00:00:00 +0530 Mon, 17 Dec 2012 18:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206962 The High Court upheld the imposition of the penalty under Section 271(1)(c) against the assessee, ruling that the deletion of the penalty by the Tribunal was not justified. The Court found the gift received to be bogus, indicating inaccurate particulars of income, and concluded that the assessee had concealed income details, making the penalty imposition valid. The Court referred to a previous judgment and held in favor of the Revenue, allowing the appeal. Case-Laws Income Tax Fri, 25 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206962