https://www.taxtmi.com/caselaws?id=349619 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, on the assessee for furnishing inaccurate particulars of income by deliberately booking bogus bills to inflate expenses, leading to understatement of profits. The Tribunal found the penalty justified due to the deliberate actions of the assessee, dismissing the appeal and affirming the penalty for the Assessment Year 2006-07. en-us Tue, 12 Sep 2017 00:00:00 +0530 Wed, 18 Oct 2017 11:02:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349619 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, on the assessee for furnishing inaccurate particulars of income by deliberately booking bogus bills to inflate expenses, leading to understatement of profits. The Tribunal found the penalty justified due to the deliberate actions of the assessee, dismissing the appeal and affirming the penalty for the Assessment Year 2006-07. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349619