https://www.taxtmi.com/caselaws?id=289766 The Tribunal upheld the penalty under section 271(1)(c) of the Income-tax Act, 1961 against the assessee for concealing income and furnishing inaccurate particulars related to capital gains from the sale of land. The Tribunal found that the assessee's actions were not bona fide, as there was a significant transaction that was not properly disclosed in the returns. The appeal was dismissed, affirming the penalty imposed by the Assessing Officer and upheld by the CIT(A). en-us Mon, 31 May 2010 00:00:00 +0530 Thu, 20 Aug 2020 18:15:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289766 The Tribunal upheld the penalty under section 271(1)(c) of the Income-tax Act, 1961 against the assessee for concealing income and furnishing inaccurate particulars related to capital gains from the sale of land. The Tribunal found that the assessee's actions were not bona fide, as there was a significant transaction that was not properly disclosed in the returns. The appeal was dismissed, affirming the penalty imposed by the Assessing Officer and upheld by the CIT(A). Case-Laws Income Tax Mon, 31 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289766