https://www.taxtmi.com/caselaws?id=272269 The Tribunal confirmed the penalty under section 271(1)(c) of the Income Tax Act, 1961 against the appellant for concealing income related to share application money received through bogus entries. Despite the appellant's contentions and submission of confirmations with PAN numbers, the Tribunal held that the surrender of income was not voluntary and indicated an intent to conceal income. Relying on legal precedents, the Tribunal upheld the penalty, dismissing the appeal and affirming the lower authorities' decisions. en-us Fri, 22 Jan 2016 00:00:00 +0530 Thu, 03 Mar 2016 11:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272269 The Tribunal confirmed the penalty under section 271(1)(c) of the Income Tax Act, 1961 against the appellant for concealing income related to share application money received through bogus entries. Despite the appellant's contentions and submission of confirmations with PAN numbers, the Tribunal held that the surrender of income was not voluntary and indicated an intent to conceal income. Relying on legal precedents, the Tribunal upheld the penalty, dismissing the appeal and affirming the lower authorities' decisions. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272269