https://www.taxtmi.com/caselaws?id=408878 The ITAT upheld the disallowance of payments made by the assessee, a stock broker, to PSUs for assessment years 1991-94, leading to penalties under Section 271(1)(c) for inaccurate income particulars. The CIT(A) initially allowed the assessee's appeals, but the ITAT reversed this decision. The Supreme Court dismissed all appeals, affirming the ITAT's findings on the nature of transactions and the broker's role, emphasizing legal principles and facts. en-us Mon, 21 Jun 2021 00:00:00 +0530 Sat, 26 Oct 2024 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408878 The ITAT upheld the disallowance of payments made by the assessee, a stock broker, to PSUs for assessment years 1991-94, leading to penalties under Section 271(1)(c) for inaccurate income particulars. The CIT(A) initially allowed the assessee's appeals, but the ITAT reversed this decision. The Supreme Court dismissed all appeals, affirming the ITAT's findings on the nature of transactions and the broker's role, emphasizing legal principles and facts. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408878