https://www.taxtmi.com/caselaws?id=212635 The court allowed the appeal by the revenue, setting aside the tribunal's order and restoring the penalty imposed by the assessing officer under Section 271(1)(c) of the Income Tax Act. The court found that the assessee had concealed income and furnished inaccurate particulars, justifying the penalty. The court rejected the assessee's explanation for the cash credit entry, stating that offering income to buy peace does not excuse concealment. en-us Mon, 02 Apr 2012 00:00:00 +0530 Wed, 18 Jul 2012 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212635 The court allowed the appeal by the revenue, setting aside the tribunal's order and restoring the penalty imposed by the assessing officer under Section 271(1)(c) of the Income Tax Act. The court found that the assessee had concealed income and furnished inaccurate particulars, justifying the penalty. The court rejected the assessee's explanation for the cash credit entry, stating that offering income to buy peace does not excuse concealment. Case-Laws Income Tax Mon, 02 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212635