https://www.taxtmi.com/caselaws?id=298813 The Tribunal upheld the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2010-11 due to income concealment by the firm engaged in advertisement contracts. The initial penalty of 200% of the tax sought to be evaded was deemed excessive and reduced to 100%. The Revenue's appeal was partially allowed, resulting in a modified penalty amount of Rs. 10,25,850. en-us Tue, 25 Sep 2018 00:00:00 +0530 Sun, 21 Nov 2021 19:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298813 The Tribunal upheld the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2010-11 due to income concealment by the firm engaged in advertisement contracts. The initial penalty of 200% of the tax sought to be evaded was deemed excessive and reduced to 100%. The Revenue's appeal was partially allowed, resulting in a modified penalty amount of Rs. 10,25,850. Case-Laws Income Tax Tue, 25 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298813