https://www.taxtmi.com/caselaws?id=270571 The Tribunal confirmed the levy of penalties under Section 271(1)(c) of the Income Tax Act, 1961, for all assessment years in question. The appeals by the assessee were dismissed, and the penalties were upheld due to findings of unaccounted income and lack of proper records. The Tribunal concluded that the assessee's actions indicated a clear intent to evade taxes and submit inaccurate income particulars, justifying the penalty imposition. en-us Fri, 20 Nov 2015 00:00:00 +0530 Sat, 09 Jan 2016 17:04:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270571 The Tribunal confirmed the levy of penalties under Section 271(1)(c) of the Income Tax Act, 1961, for all assessment years in question. The appeals by the assessee were dismissed, and the penalties were upheld due to findings of unaccounted income and lack of proper records. The Tribunal concluded that the assessee's actions indicated a clear intent to evade taxes and submit inaccurate income particulars, justifying the penalty imposition. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270571