https://www.taxtmi.com/caselaws?id=214259 The Tribunal upheld the penalty of Rs. 13,61,588 imposed under section 271(1)(c) of the Income Tax Act on the assessee for unexplained investments, undisclosed profits, and other issues. The penalty order was deemed valid as it was not barred by limitation, satisfaction was recorded in the original assessment order, and the penalty was justified due to the incorrect presentation of facts by the assessee. The appeal filed by the assessee was dismissed, affirming the penalty imposition. en-us Wed, 22 Feb 2012 00:00:00 +0530 Fri, 22 Jun 2012 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214259 The Tribunal upheld the penalty of Rs. 13,61,588 imposed under section 271(1)(c) of the Income Tax Act on the assessee for unexplained investments, undisclosed profits, and other issues. The penalty order was deemed valid as it was not barred by limitation, satisfaction was recorded in the original assessment order, and the penalty was justified due to the incorrect presentation of facts by the assessee. The appeal filed by the assessee was dismissed, affirming the penalty imposition. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214259