https://www.taxtmi.com/caselaws?id=360435 The Appellate Tribunal upheld the penalty under section 271(1)(c) of the I.T. Act for the A.Y. 2014-2015, as the assessee failed to establish a direct nexus between claimed expenses and income from other sources. The penalty imposition was deemed necessary due to the lack of genuine basis and the detection of inaccurate particulars by the Assessing Officer. The Tribunal's decision aligned with a precedent set by the Hon'ble Delhi High Court, leading to the dismissal of the appeal and affirming the penalty imposed by the A.O. en-us Wed, 14 Mar 2018 00:00:00 +0530 Thu, 17 May 2018 05:55:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360435 The Appellate Tribunal upheld the penalty under section 271(1)(c) of the I.T. Act for the A.Y. 2014-2015, as the assessee failed to establish a direct nexus between claimed expenses and income from other sources. The penalty imposition was deemed necessary due to the lack of genuine basis and the detection of inaccurate particulars by the Assessing Officer. The Tribunal's decision aligned with a precedent set by the Hon'ble Delhi High Court, leading to the dismissal of the appeal and affirming the penalty imposed by the A.O. Case-Laws Income Tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360435