https://www.taxtmi.com/caselaws?id=261241 The Tribunal upheld the penalties under Section 271(1)(c) for undisclosed bank accounts, dismissing the assessee's Miscellaneous Applications. The penalties were justified based on actual peak balances, not estimates, and the Tribunal found no errors in its original order regarding deposit explanations, voluntariness of disclosures, or the applicability of case laws. The decision in the Becharbhai P. Parmar case reinforced the legitimacy of the penalties. The order was pronounced on June 19, 2015, in Ahmedabad. en-us Fri, 19 Jun 2015 00:00:00 +0530 Tue, 07 Jul 2015 06:40:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261241 The Tribunal upheld the penalties under Section 271(1)(c) for undisclosed bank accounts, dismissing the assessee's Miscellaneous Applications. The penalties were justified based on actual peak balances, not estimates, and the Tribunal found no errors in its original order regarding deposit explanations, voluntariness of disclosures, or the applicability of case laws. The decision in the Becharbhai P. Parmar case reinforced the legitimacy of the penalties. The order was pronounced on June 19, 2015, in Ahmedabad. Case-Laws Income Tax Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261241