https://www.taxtmi.com/caselaws?id=249597 The Tribunal upheld penalties imposed under Section 271(1)(c) for three assessment years, concluding that the assessee's actions were deliberate and not bona fide. The penalties were confirmed due to maintaining two sets of books, underreporting sales, and lack of genuine explanations. The Tribunal dismissed the appeals, emphasizing the significance of accurate income reporting and consequences of tax evasion. en-us Fri, 23 May 2014 00:00:00 +0530 Fri, 18 Jul 2014 07:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249597 The Tribunal upheld penalties imposed under Section 271(1)(c) for three assessment years, concluding that the assessee's actions were deliberate and not bona fide. The penalties were confirmed due to maintaining two sets of books, underreporting sales, and lack of genuine explanations. The Tribunal dismissed the appeals, emphasizing the significance of accurate income reporting and consequences of tax evasion. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249597