https://www.taxtmi.com/highlights?id=34001 The penalty u/s 271(1)(c) was imposed because the assessee did not offer any explanation to the assessing officer in the first instance and then the penalty was sustained because his explanation furnished before the CIT (Appeals) was rejected. - Levy of penalty confirmed - HC en-us Mon, 27 Mar 2017 09:02:46 +0530 Mon, 27 Mar 2017 09:02:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34001 The penalty u/s 271(1)(c) was imposed because the assessee did not offer any explanation to the assessing officer in the first instance and then the penalty was sustained because his explanation furnished before the CIT (Appeals) was rejected. - Levy of penalty confirmed - HC Highlights Income Tax Mon, 27 Mar 2017 09:02:46 +0530 https://www.taxtmi.com/highlights?id=34001