https://www.taxtmi.com/caselaws?id=188550 The appeal challenging the penalty for concealment of income under section 271(1)(c) of the Income-tax Act, 1961 was dismissed. The penalty was upheld based on unrecorded cash receipts discovered during a search at the assessee's premises. The Tribunal and High Court affirmed the penalty, citing the seized document as evidence of unaccounted income. The Court found no substantial question of law involved, supporting the penalty imposition. The authorities' concurrent findings of unrecorded cash receipts justified the penalty under section 271(1)(c) of the Act. en-us Mon, 26 Mar 2007 00:00:00 +0530 Mon, 05 Dec 2016 15:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188550 The appeal challenging the penalty for concealment of income under section 271(1)(c) of the Income-tax Act, 1961 was dismissed. The penalty was upheld based on unrecorded cash receipts discovered during a search at the assessee's premises. The Tribunal and High Court affirmed the penalty, citing the seized document as evidence of unaccounted income. The Court found no substantial question of law involved, supporting the penalty imposition. The authorities' concurrent findings of unrecorded cash receipts justified the penalty under section 271(1)(c) of the Act. Case-Laws Income Tax Mon, 26 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188550