https://www.taxtmi.com/caselaws?id=280878 The Tribunal upheld the penalty under Section 271(1)(c) of the Income Tax Act, 1961, for concealing income particulars. It rejected the claim that the revised return was voluntary and found the assessee failed to prove the genuineness of share application money. The Tribunal also deemed the penalty notice under Section 274 valid, dismissing the assessee's appeal on all grounds. The decision was issued on November 01, 2017, in Chennai. en-us Wed, 01 Nov 2017 00:00:00 +0530 Fri, 24 May 2019 12:10:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280878 The Tribunal upheld the penalty under Section 271(1)(c) of the Income Tax Act, 1961, for concealing income particulars. It rejected the claim that the revised return was voluntary and found the assessee failed to prove the genuineness of share application money. The Tribunal also deemed the penalty notice under Section 274 valid, dismissing the assessee's appeal on all grounds. The decision was issued on November 01, 2017, in Chennai. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280878