https://www.taxtmi.com/caselaws?id=372128 The Tribunal upheld the levy of penalty under Section 271(1)(c) amounting to Rs. 11,68,020/-, finding that the surrender of income during search operations justified the penalty imposition. The Tribunal dismissed additional grounds challenging the validity of penalty proceedings, citing lack of evidence of any infirmity in the notice issued under Section 274. The decision was influenced by a similar case precedent where the penalty imposition was upheld under identical circumstances. en-us Wed, 04 Jul 2018 00:00:00 +0530 Tue, 18 Dec 2018 08:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372128 The Tribunal upheld the levy of penalty under Section 271(1)(c) amounting to Rs. 11,68,020/-, finding that the surrender of income during search operations justified the penalty imposition. The Tribunal dismissed additional grounds challenging the validity of penalty proceedings, citing lack of evidence of any infirmity in the notice issued under Section 274. The decision was influenced by a similar case precedent where the penalty imposition was upheld under identical circumstances. Case-Laws Income Tax Wed, 04 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372128