https://www.taxtmi.com/caselaws?id=379082 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the assessee failed to provide a bona fide explanation for the undisclosed income. The decision confirmed the validity of the penalty proceedings, despite challenges regarding the notice's specificity and assessment proceedings. The appeal was dismissed, affirming the penalty of Rs. 3,80,860/- imposed on the assessee. en-us Wed, 24 Apr 2019 00:00:00 +0530 Fri, 26 Apr 2019 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379082 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the assessee failed to provide a bona fide explanation for the undisclosed income. The decision confirmed the validity of the penalty proceedings, despite challenges regarding the notice's specificity and assessment proceedings. The appeal was dismissed, affirming the penalty of Rs. 3,80,860/- imposed on the assessee. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379082