https://www.taxtmi.com/caselaws?id=407917 The Tribunal upheld the imposition of a penalty of Rs. 1,00,000 under Section 221(1) of the Income Tax Act, 1961, against the assessee for failure to pay taxes within the stipulated time despite multiple opportunities and inadequate explanations for non-compliance. The Tribunal dismissed the appeal, affirming the decision of the Assessing Officer and Commissioner of Income Tax (Appeals)-3, Hyderabad, on 24th May 2021. en-us Mon, 24 May 2021 00:00:00 +0530 Wed, 26 May 2021 08:41:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407917 The Tribunal upheld the imposition of a penalty of Rs. 1,00,000 under Section 221(1) of the Income Tax Act, 1961, against the assessee for failure to pay taxes within the stipulated time despite multiple opportunities and inadequate explanations for non-compliance. The Tribunal dismissed the appeal, affirming the decision of the Assessing Officer and Commissioner of Income Tax (Appeals)-3, Hyderabad, on 24th May 2021. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407917