https://www.taxtmi.com/caselaws?id=234131 The Tribunal upheld the Assessing Officer's decision to levy penalties under Section 271(1)(c) against the assessee for false claims regarding commission payments to M/s. Neeraj Consultants Ltd. and M/s. Gwalior Transmission Systems Ltd. The Tribunal found the claims to be unsupported by evidence, indicating a mala fide intention. Consequently, the Tribunal set aside the First Appellate Authority's order and restored the Assessing Officer's decision, emphasizing the importance of penalizing tax evasion through inaccurate income reporting. en-us Wed, 01 May 2013 00:00:00 +0530 Thu, 30 May 2013 05:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234131 The Tribunal upheld the Assessing Officer's decision to levy penalties under Section 271(1)(c) against the assessee for false claims regarding commission payments to M/s. Neeraj Consultants Ltd. and M/s. Gwalior Transmission Systems Ltd. The Tribunal found the claims to be unsupported by evidence, indicating a mala fide intention. Consequently, the Tribunal set aside the First Appellate Authority's order and restored the Assessing Officer's decision, emphasizing the importance of penalizing tax evasion through inaccurate income reporting. Case-Laws Income Tax Wed, 01 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234131