https://www.taxtmi.com/caselaws?id=369324 The tribunal upheld the penalty of Rs. 2,18,189 under Section 271(1)(c) as the assessee's actions resulted in significant tax discrepancies. The tribunal found no bona fide reasons for the mistakes, dismissing the appeal. The errors, not inadvertent but significant misrepresentations affecting tax liability, were attributed to the Chartered Accountant's oversight. The tribunal distinguished this case from SC's decision in Price Waterhouse Coopers Private Limited v. CIT due to the deliberate nature of the misrepresentations. en-us Mon, 22 Oct 2018 00:00:00 +0530 Thu, 25 Oct 2018 08:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369324 The tribunal upheld the penalty of Rs. 2,18,189 under Section 271(1)(c) as the assessee's actions resulted in significant tax discrepancies. The tribunal found no bona fide reasons for the mistakes, dismissing the appeal. The errors, not inadvertent but significant misrepresentations affecting tax liability, were attributed to the Chartered Accountant's oversight. The tribunal distinguished this case from SC's decision in Price Waterhouse Coopers Private Limited v. CIT due to the deliberate nature of the misrepresentations. Case-Laws Income Tax Mon, 22 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369324