https://www.taxtmi.com/caselaws?id=339484 The tribunal upheld the imposition of penalties on the appellant company for concealment of income and fraudulent claims of CENVAT credit. The penalties under section 271(1)(c) were deemed justified due to the company's involvement in fraudulent activities and bogus purchases, as evidenced by concrete findings. The tribunal concluded that the additions were not estimated but based on proven fraudulent transactions, supporting the penalties imposed by the assessing officer and CIT(A). en-us Mon, 20 Feb 2017 00:00:00 +0530 Tue, 28 Feb 2017 11:42:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339484 The tribunal upheld the imposition of penalties on the appellant company for concealment of income and fraudulent claims of CENVAT credit. The penalties under section 271(1)(c) were deemed justified due to the company's involvement in fraudulent activities and bogus purchases, as evidenced by concrete findings. The tribunal concluded that the additions were not estimated but based on proven fraudulent transactions, supporting the penalties imposed by the assessing officer and CIT(A). Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339484