https://www.taxtmi.com/caselaws?id=245314 The Andhra Pradesh High Court upheld the penalty under Section 271(2) of the Income Tax Act for concealment of refundable empty bottle deposits but ruled against the penalty for unreconciled balance sheet differences. The Court found that while the concealment of deposits was established, the justification for the penalty related to balance sheet differences was lacking. The case was disposed of with costs not awarded, and pending miscellaneous petitions were deemed infructuous. en-us Tue, 04 Mar 2014 00:00:00 +0530 Sat, 21 Feb 2015 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245314 The Andhra Pradesh High Court upheld the penalty under Section 271(2) of the Income Tax Act for concealment of refundable empty bottle deposits but ruled against the penalty for unreconciled balance sheet differences. The Court found that while the concealment of deposits was established, the justification for the penalty related to balance sheet differences was lacking. The case was disposed of with costs not awarded, and pending miscellaneous petitions were deemed infructuous. Case-Laws Income Tax Tue, 04 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245314