https://www.taxtmi.com/caselaws?id=217427 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, affirming that the assessee failed to provide a satisfactory explanation for the detected discrepancies in accounts, resulting in a presumption of concealment. The surrender of income was deemed non-voluntary as it occurred post-detection by the AO. The Tribunal dismissed the appeal and confirmed the penalty of Rs. 48,413 imposed by the AO. en-us Mon, 01 Oct 2012 00:00:00 +0530 Wed, 06 Apr 2016 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217427 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, affirming that the assessee failed to provide a satisfactory explanation for the detected discrepancies in accounts, resulting in a presumption of concealment. The surrender of income was deemed non-voluntary as it occurred post-detection by the AO. The Tribunal dismissed the appeal and confirmed the penalty of Rs. 48,413 imposed by the AO. Case-Laws Income Tax Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217427