https://www.taxtmi.com/caselaws?id=329968 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The penalty was upheld for disallowances under section 40(a)(ia) and addition on account of rent receipts, as the assessee failed to provide sufficient evidence to rebut the findings of the CIT(A) and did not meet the burden under Explanation 1 to section 271(1)(c). The appeal by the assessee was dismissed, and the penalty was upheld in the final order pronounced on 8th July 2016. en-us Fri, 08 Jul 2016 00:00:00 +0530 Thu, 14 Jul 2016 11:41:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329968 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The penalty was upheld for disallowances under section 40(a)(ia) and addition on account of rent receipts, as the assessee failed to provide sufficient evidence to rebut the findings of the CIT(A) and did not meet the burden under Explanation 1 to section 271(1)(c). The appeal by the assessee was dismissed, and the penalty was upheld in the final order pronounced on 8th July 2016. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329968