https://www.taxtmi.com/caselaws?id=373112 The Tribunal upheld the penalty under Section 271(1)(c) for concealment of income, dismissing the appeal. It found that the assessee's failure to disclose a significant capital gain was deliberate, despite attributing it to the accountant's error. The Tribunal also ruled that the lack of a specific charge in the penalty notice did not invalidate the penalty proceedings, citing relevant case law. The decision highlighted the assessee's duty to accurately report income and disregarded the accountant's mistake as a valid defense. en-us Tue, 01 Jan 2019 00:00:00 +0530 Mon, 07 Jan 2019 12:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373112 The Tribunal upheld the penalty under Section 271(1)(c) for concealment of income, dismissing the appeal. It found that the assessee's failure to disclose a significant capital gain was deliberate, despite attributing it to the accountant's error. The Tribunal also ruled that the lack of a specific charge in the penalty notice did not invalidate the penalty proceedings, citing relevant case law. The decision highlighted the assessee's duty to accurately report income and disregarded the accountant's mistake as a valid defense. Case-Laws Income Tax Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373112