https://www.taxtmi.com/caselaws?id=327632 The Tribunal upheld the penalty imposed under section 18(1)(c) of the Income Tax Act for Assessment Year 2003-04, finding that the assessee's deliberate concealment of income and wealth warranted the penalty. The detection of unaccounted cash before the notice under section 17 distinguished this case from precedents where penalties were canceled due to voluntary filing. The Tribunal dismissed the appeal, emphasizing that the cited decisions by the assessee were not applicable, and affirmed the penalty imposed by the Assessing Officer. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327632 The Tribunal upheld the penalty imposed under section 18(1)(c) of the Income Tax Act for Assessment Year 2003-04, finding that the assessee's deliberate concealment of income and wealth warranted the penalty. The detection of unaccounted cash before the notice under section 17 distinguished this case from precedents where penalties were canceled due to voluntary filing. The Tribunal dismissed the appeal, emphasizing that the cited decisions by the assessee were not applicable, and affirmed the penalty imposed by the Assessing Officer. Case-Laws Wealth-tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327632