https://www.taxtmi.com/caselaws?id=369256 The Tribunal upheld the penalty imposed on the assessee under section 271(1)(c) of the Act for Rs. 55,53,360. The penalty was confirmed as the income was not voluntarily disclosed but discovered during a survey. The Commissioner's decision was supported by relevant case laws, emphasizing the lack of voluntary disclosure. The Tribunal found no reason to overturn the decision and dismissed the assessee's appeal, affirming the penalty. en-us Mon, 15 Oct 2018 00:00:00 +0530 Wed, 24 Oct 2018 08:57:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369256 The Tribunal upheld the penalty imposed on the assessee under section 271(1)(c) of the Act for Rs. 55,53,360. The penalty was confirmed as the income was not voluntarily disclosed but discovered during a survey. The Commissioner's decision was supported by relevant case laws, emphasizing the lack of voluntary disclosure. The Tribunal found no reason to overturn the decision and dismissed the assessee's appeal, affirming the penalty. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369256