https://www.taxtmi.com/caselaws?id=177135 The Tribunal upheld the imposition of penalties under Section 271(1)(c) for the assessment years 2002-03, 2004-05, and 2005-06, finding that the assessee concealed income and furnished inaccurate particulars. The appeals were dismissed, confirming the orders of the CIT(A) and the AO. The decision emphasized that penalties can be imposed on estimated income if supported by evidence of concealment, shifting the burden of proof to the assessee to demonstrate no concealment. en-us Mon, 24 Mar 2014 00:00:00 +0530 Mon, 04 Jan 2016 12:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177135 The Tribunal upheld the imposition of penalties under Section 271(1)(c) for the assessment years 2002-03, 2004-05, and 2005-06, finding that the assessee concealed income and furnished inaccurate particulars. The appeals were dismissed, confirming the orders of the CIT(A) and the AO. The decision emphasized that penalties can be imposed on estimated income if supported by evidence of concealment, shifting the burden of proof to the assessee to demonstrate no concealment. Case-Laws Income Tax Mon, 24 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177135