https://www.taxtmi.com/caselaws?id=408611 The Tribunal upheld the penalty of Rs. 9,54,952/- imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The penalty was confirmed by the CIT (Appeals) and deemed legal, despite the assessee's challenges regarding the estimation of student fee income and explanations provided for discrepancies. The Tribunal found the penalty justified as the assessee failed to provide sufficient evidence to support their claims, leading to the dismissal of the appeal and the maintenance of the penalty. en-us Mon, 14 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408611 The Tribunal upheld the penalty of Rs. 9,54,952/- imposed under Section 271(1)(c) of the Income Tax Act for the assessment year 2007-08. The penalty was confirmed by the CIT (Appeals) and deemed legal, despite the assessee's challenges regarding the estimation of student fee income and explanations provided for discrepancies. The Tribunal found the penalty justified as the assessee failed to provide sufficient evidence to support their claims, leading to the dismissal of the appeal and the maintenance of the penalty. Case-Laws Income Tax Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408611