https://www.taxtmi.com/caselaws?id=234990 The Tribunal confirmed penalties under Section 271(1)(c) for the assessment years 2002-03 and 2003-04, rejecting the assessee's arguments. It held that wilful concealment is not necessary for penalty imposition and that false claims and unreliable accounts justified the penalties. The Tribunal emphasized that the Commissioner's order did not restrict the Assessing Officer's authority to levy penalties if warranted by the facts. The decision was based on legal precedents and specific case facts. en-us Wed, 05 Jun 2013 00:00:00 +0530 Mon, 28 Oct 2013 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234990 The Tribunal confirmed penalties under Section 271(1)(c) for the assessment years 2002-03 and 2003-04, rejecting the assessee's arguments. It held that wilful concealment is not necessary for penalty imposition and that false claims and unreliable accounts justified the penalties. The Tribunal emphasized that the Commissioner's order did not restrict the Assessing Officer's authority to levy penalties if warranted by the facts. The decision was based on legal precedents and specific case facts. Case-Laws Income Tax Wed, 05 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234990