https://www.taxtmi.com/caselaws?id=215585 The Tribunal upheld the penalty under section 271(1)(c) for the assessment year 2003-04, ruling that the appellant's claim was not bonafide. Appeals for the subsequent years 2006-07 and 2009-10 were dismissed as not pressed, leading to the overall dismissal of all appeals. The Tribunal emphasized that the penalty does not require mensrea to be proven and differentiated this case from precedent, justifying the penalty imposition for inaccurate particulars of income and concealment of income. en-us Wed, 13 Jun 2012 00:00:00 +0530 Thu, 09 Aug 2012 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215585 The Tribunal upheld the penalty under section 271(1)(c) for the assessment year 2003-04, ruling that the appellant's claim was not bonafide. Appeals for the subsequent years 2006-07 and 2009-10 were dismissed as not pressed, leading to the overall dismissal of all appeals. The Tribunal emphasized that the penalty does not require mensrea to be proven and differentiated this case from precedent, justifying the penalty imposition for inaccurate particulars of income and concealment of income. Case-Laws Income Tax Wed, 13 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215585