https://www.taxtmi.com/caselaws?id=244560 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for concealment of income by the assessee. The Tribunal found that the assessee's explanations for non-filing of returns, non-payment of taxes, and the claim for relief under Section 54F were unconvincing and inconsistent. The Tribunal concluded that the assessee deliberately attempted to evade tax on capital gains, leading to the dismissal of the appeal and confirmation of the penalty order on 10.1.2014. en-us Fri, 10 Jan 2014 00:00:00 +0530 Sat, 01 Mar 2014 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244560 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for concealment of income by the assessee. The Tribunal found that the assessee's explanations for non-filing of returns, non-payment of taxes, and the claim for relief under Section 54F were unconvincing and inconsistent. The Tribunal concluded that the assessee deliberately attempted to evade tax on capital gains, leading to the dismissal of the appeal and confirmation of the penalty order on 10.1.2014. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244560