https://www.taxtmi.com/caselaws?id=18906 The High Court of BOMBAY dismissed the petition challenging penalties imposed on a firm under the Income-tax Act for concealing income during search and seizure operations in 1965. The petitioner's lack of cooperation, failure to prove the amounts were not concealed income, and surrender of amounts only after seizure operations led the court to uphold the penalties. Despite a reduction in penalty for one assessment year by the Commissioner, the court found no merit in the petition due to the petitioner's actions and dismissed it without costs to either party. en-us Thu, 29 Jun 1995 00:00:00 +0530 Mon, 02 Nov 2009 16:46:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18906 The High Court of BOMBAY dismissed the petition challenging penalties imposed on a firm under the Income-tax Act for concealing income during search and seizure operations in 1965. The petitioner's lack of cooperation, failure to prove the amounts were not concealed income, and surrender of amounts only after seizure operations led the court to uphold the penalties. Despite a reduction in penalty for one assessment year by the Commissioner, the court found no merit in the petition due to the petitioner's actions and dismissed it without costs to either party. Case-Laws Income Tax Thu, 29 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18906