https://www.taxtmi.com/caselaws?id=11735 The High Court ruled in favor of the Department in an appeal against the setting aside of a penalty under section 271(1)(c) of the Income-tax Act, 1961. The Court found that the assessee's failure to pay collected sales tax rendered section 43B inapplicable, leading to the application of section 271(1)(c) for concealing trading receipts. Consequently, the penalty deletion was denied, and the appeal was allowed without costs. en-us Wed, 15 Jan 2003 00:00:00 +0530 Sat, 11 Jan 2014 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11735 The High Court ruled in favor of the Department in an appeal against the setting aside of a penalty under section 271(1)(c) of the Income-tax Act, 1961. The Court found that the assessee's failure to pay collected sales tax rendered section 43B inapplicable, leading to the application of section 271(1)(c) for concealing trading receipts. Consequently, the penalty deletion was denied, and the appeal was allowed without costs. Case-Laws Income Tax Wed, 15 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11735