https://www.taxtmi.com/caselaws?id=19184 The court upheld the penalty order under section 271(1)(c) of the Income-tax Act, 1961, and dismissed the revision petition challenging the penalty. The petitioner's explanation for the penalty was not substantiated, and the court found the Assessing Officer's decision justified based on investments not recorded in the books of account. The court emphasized that factual questions could not be re-examined under article 226 of the Constitution. Additionally, the court rejected arguments regarding previous decisions and lack of evidence supporting claims related to the return filing agreement. The writ petition was dismissed with costs. en-us Tue, 04 Jul 1995 00:00:00 +0530 Wed, 04 Nov 2009 14:21:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19184 The court upheld the penalty order under section 271(1)(c) of the Income-tax Act, 1961, and dismissed the revision petition challenging the penalty. The petitioner's explanation for the penalty was not substantiated, and the court found the Assessing Officer's decision justified based on investments not recorded in the books of account. The court emphasized that factual questions could not be re-examined under article 226 of the Constitution. Additionally, the court rejected arguments regarding previous decisions and lack of evidence supporting claims related to the return filing agreement. The writ petition was dismissed with costs. Case-Laws Income Tax Tue, 04 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19184