https://www.taxtmi.com/caselaws?id=11914 The High Court affirmed the Tribunal's decision in a case concerning a penalty under section 271(1)(c) of the Income-tax Act related to concealing income in the purchase of a car. The Court upheld the penalty only for the admitted concealed income of Rs. 31,000, canceling the balance penalty imposed. The judgment favored the assessee, concluding the matter with no order as to costs. en-us Thu, 23 Jan 2003 00:00:00 +0530 Thu, 11 Feb 2010 16:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11914 The High Court affirmed the Tribunal's decision in a case concerning a penalty under section 271(1)(c) of the Income-tax Act related to concealing income in the purchase of a car. The Court upheld the penalty only for the admitted concealed income of Rs. 31,000, canceling the balance penalty imposed. The judgment favored the assessee, concluding the matter with no order as to costs. Case-Laws Income Tax Thu, 23 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11914