https://www.taxtmi.com/caselaws?id=291141 The tribunal confirmed the penalty imposed under section 271(1)(c) of the Income Tax Act as the assessee failed to justify unexplained credit balances, indicating income concealment. Legal precedents and factual findings supported the decision, leading to the dismissal of the assessee's appeal. en-us Tue, 16 Aug 2016 00:00:00 +0530 Thu, 29 Oct 2020 18:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291141 The tribunal confirmed the penalty imposed under section 271(1)(c) of the Income Tax Act as the assessee failed to justify unexplained credit balances, indicating income concealment. Legal precedents and factual findings supported the decision, leading to the dismissal of the assessee's appeal. Case-Laws Income Tax Tue, 16 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291141