https://www.taxtmi.com/caselaws?id=388758 The Tribunal upheld the decision of the CIT(A) and dismissed the assessee's appeal regarding the penalty imposed under section 271(1)(c) for Assessment Year 2003-04. The Tribunal found that the penalty was justified due to concealed income or inaccurate particulars provided by the assessee. It was determined that the amendment introduced by the Finance Act, 2015 did not apply in this case, and the issue required a detailed examination rather than a simple rectification under section 154. The appeal was concluded with the dismissal of the assessee's appeal. en-us Wed, 20 Nov 2019 00:00:00 +0530 Thu, 21 Nov 2019 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388758 The Tribunal upheld the decision of the CIT(A) and dismissed the assessee's appeal regarding the penalty imposed under section 271(1)(c) for Assessment Year 2003-04. The Tribunal found that the penalty was justified due to concealed income or inaccurate particulars provided by the assessee. It was determined that the amendment introduced by the Finance Act, 2015 did not apply in this case, and the issue required a detailed examination rather than a simple rectification under section 154. The appeal was concluded with the dismissal of the assessee's appeal. Case-Laws Income Tax Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388758