https://www.taxtmi.com/caselaws?id=354931 The High Court upheld the penalty imposed under Section 271(1)(c) for the assessment years 2007-08 and 2008-09, based on additions made by the Assessing Officer supported by incriminating evidence. The Court emphasized that the penalty should be proportional to the tax evasion related to the concealed profit from the sale of lenses, as per the minimum permissible under the law. en-us Tue, 09 Jan 2018 00:00:00 +0530 Wed, 07 Feb 2018 08:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354931 The High Court upheld the penalty imposed under Section 271(1)(c) for the assessment years 2007-08 and 2008-09, based on additions made by the Assessing Officer supported by incriminating evidence. The Court emphasized that the penalty should be proportional to the tax evasion related to the concealed profit from the sale of lenses, as per the minimum permissible under the law. Case-Laws Income Tax Tue, 09 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354931