https://www.taxtmi.com/caselaws?id=345846 The High Court upheld the Tribunal's decision to impose a penalty under Section 271(1)(c) of the Income Tax Act, 1961 on the appellant for the assessment year 2007-08. The appellant's failure to substantiate the genuineness of gifts received on his daughter's marriage led to concealment, justifying the penalty imposition. The Court emphasized the necessity of concealment or furnishing inaccurate particulars for penalty under the mentioned section. As the appellant could not prove the authenticity of the gifts, the penalty imposition was supported, and the appeal was dismissed for lack of substantial legal questions. en-us Thu, 13 Jul 2017 00:00:00 +0530 Wed, 13 Dec 2017 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345846 The High Court upheld the Tribunal's decision to impose a penalty under Section 271(1)(c) of the Income Tax Act, 1961 on the appellant for the assessment year 2007-08. The appellant's failure to substantiate the genuineness of gifts received on his daughter's marriage led to concealment, justifying the penalty imposition. The Court emphasized the necessity of concealment or furnishing inaccurate particulars for penalty under the mentioned section. As the appellant could not prove the authenticity of the gifts, the penalty imposition was supported, and the appeal was dismissed for lack of substantial legal questions. Case-Laws Income Tax Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345846