https://www.taxtmi.com/caselaws?id=373630 The Tribunal partially allowed the appeal filed by the assessee, directing the Assessing Officer to restrict the penalty to the tax evaded on the undisclosed commission income. The Tribunal considered discrepancies in the calculation of the penalty amount, the non-disclosure of commission income, and the discrepancy between Form 16 and Form 26AS regarding salary income in favor of the assessee. The Tribunal also held that the initiation of penalty proceedings under section 271(1)(c) of the Income Tax Act was valid, condoning the delay in filing the appeal and proceeding to adjudicate on merits. en-us Wed, 09 Jan 2019 00:00:00 +0530 Thu, 17 Jan 2019 08:13:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373630 The Tribunal partially allowed the appeal filed by the assessee, directing the Assessing Officer to restrict the penalty to the tax evaded on the undisclosed commission income. The Tribunal considered discrepancies in the calculation of the penalty amount, the non-disclosure of commission income, and the discrepancy between Form 16 and Form 26AS regarding salary income in favor of the assessee. The Tribunal also held that the initiation of penalty proceedings under section 271(1)(c) of the Income Tax Act was valid, condoning the delay in filing the appeal and proceeding to adjudicate on merits. Case-Laws Income Tax Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373630