https://www.taxtmi.com/caselaws?id=264439 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, finding that the assessee had furnished inaccurate particulars of income by suppressing actual sale consideration and rental income. The Tribunal rejected the assessee's argument regarding compliance with the Assessing Officer's direction and concluded that there was a failure to fully and truly disclose all material facts necessary for assessment. Consequently, the appeal was dismissed, affirming the penalty imposed by the Commissioner of Income Tax (Appeals). en-us Wed, 24 Jun 2015 00:00:00 +0530 Fri, 25 Sep 2015 07:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264439 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, finding that the assessee had furnished inaccurate particulars of income by suppressing actual sale consideration and rental income. The Tribunal rejected the assessee's argument regarding compliance with the Assessing Officer's direction and concluded that there was a failure to fully and truly disclose all material facts necessary for assessment. Consequently, the appeal was dismissed, affirming the penalty imposed by the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264439