https://www.taxtmi.com/caselaws?id=264452 The High Court upheld the penalty imposed on a trust under section 271(1)(c) of the IT Act, dismissing the appeal. The court found the trust's explanations for discrepancies insufficient, emphasizing compliance with tax laws and accurate income reporting. The penalty was deemed justified due to unaccounted collection amounts and discrepancies in claimed deductions. en-us Tue, 02 Jun 2015 00:00:00 +0530 Fri, 25 Sep 2015 07:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264452 The High Court upheld the penalty imposed on a trust under section 271(1)(c) of the IT Act, dismissing the appeal. The court found the trust's explanations for discrepancies insufficient, emphasizing compliance with tax laws and accurate income reporting. The penalty was deemed justified due to unaccounted collection amounts and discrepancies in claimed deductions. Case-Laws Income Tax Tue, 02 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264452