https://www.taxtmi.com/caselaws?id=13991 The High Court of Delhi declined to answer the question regarding the imposition of a penalty on the assessee for the assessment year 1971-72 under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal's findings of concealment of income related to interest were considered factual, with no legal issues raised, as the assessee had surreptitiously introduced amounts in its books. The Tribunal's observations on suspicious transactions and the assessee's surrender for previous years led to the conclusion that there was concealment of income or furnishing inaccurate particulars. The High Court returned the reference unanswered. en-us Tue, 13 Mar 2001 00:00:00 +0530 Mon, 06 Jul 2009 17:54:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13991 The High Court of Delhi declined to answer the question regarding the imposition of a penalty on the assessee for the assessment year 1971-72 under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal's findings of concealment of income related to interest were considered factual, with no legal issues raised, as the assessee had surreptitiously introduced amounts in its books. The Tribunal's observations on suspicious transactions and the assessee's surrender for previous years led to the conclusion that there was concealment of income or furnishing inaccurate particulars. The High Court returned the reference unanswered. Case-Laws Income Tax Tue, 13 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13991