https://www.taxtmi.com/caselaws?id=188506 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 1998-99, as the assessee furnished inaccurate particulars of income by relying on a flawed valuation report for determining the cost of acquisition of a property. The appeal was dismissed, emphasizing the assessee's responsibility to ensure the accuracy of income particulars disclosed in the return. en-us Fri, 10 Aug 2001 00:00:00 +0530 Sat, 03 Dec 2016 12:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188506 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 1998-99, as the assessee furnished inaccurate particulars of income by relying on a flawed valuation report for determining the cost of acquisition of a property. The appeal was dismissed, emphasizing the assessee's responsibility to ensure the accuracy of income particulars disclosed in the return. Case-Laws Income Tax Fri, 10 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188506