https://www.taxtmi.com/caselaws?id=370902 The Tribunal upheld the penalty of Rs. 16,99,500 imposed under Section 271(1)(c) for suppression of Long Term Capital Gains (LTCG). The Tribunal found the assessee's explanation false and unsupported by evidence, leading to the dismissal of the appeal. The challenge regarding the validity of the jurisdiction for imposing the penalty was not addressed due to procedural deficiencies. en-us Wed, 19 Sep 2018 00:00:00 +0530 Mon, 26 Nov 2018 07:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370902 The Tribunal upheld the penalty of Rs. 16,99,500 imposed under Section 271(1)(c) for suppression of Long Term Capital Gains (LTCG). The Tribunal found the assessee's explanation false and unsupported by evidence, leading to the dismissal of the appeal. The challenge regarding the validity of the jurisdiction for imposing the penalty was not addressed due to procedural deficiencies. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370902