https://www.taxtmi.com/caselaws?id=22209 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, on a registered firm for furnishing inaccurate particulars of income and concealing income. The Tribunal found the penalty imposition justified based on discrepancies in sales transactions and the failure of the firm to provide a satisfactory explanation. The court deemed the penalty imposition valid, with no grounds for interference, and ruled in favor of the tax authorities, disposing of the reference without costs awarded. en-us Fri, 19 Jul 1991 00:00:00 +0530 Tue, 08 Dec 2009 11:04:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22209 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, on a registered firm for furnishing inaccurate particulars of income and concealing income. The Tribunal found the penalty imposition justified based on discrepancies in sales transactions and the failure of the firm to provide a satisfactory explanation. The court deemed the penalty imposition valid, with no grounds for interference, and ruled in favor of the tax authorities, disposing of the reference without costs awarded. Case-Laws Income Tax Fri, 19 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22209