https://www.taxtmi.com/caselaws?id=339295 The appeals against penalty orders under Section 271(1)(c) for Assessment Years 2006-07 and 2007-08 were dismissed. The Tribunal upheld the penalties for concealment of income as initiated clearly by the Assessing Officer. Despite the assessee's arguments and citing of legal precedents, the Tribunal found the explanations unsatisfactory and deemed the concealment of income to be established. The Tribunal relied on the jurisdictional High Court decision as a binding precedent, leading to the dismissal of the appeals without costs awarded to the assessee. en-us Fri, 10 Feb 2017 00:00:00 +0530 Tue, 19 Dec 2017 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339295 The appeals against penalty orders under Section 271(1)(c) for Assessment Years 2006-07 and 2007-08 were dismissed. The Tribunal upheld the penalties for concealment of income as initiated clearly by the Assessing Officer. Despite the assessee's arguments and citing of legal precedents, the Tribunal found the explanations unsatisfactory and deemed the concealment of income to be established. The Tribunal relied on the jurisdictional High Court decision as a binding precedent, leading to the dismissal of the appeals without costs awarded to the assessee. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339295