https://www.taxtmi.com/highlights?id=62067 Penalty levied u/s 271 (1) (c) - As the appellants had disclosed the income, after detection by the department and as per the terms of settlement, the assessing officer initiated the penalty proceedings, to which, the appellants / assesses did not submit any explanation to the effect that there was no concealment of income or furnishing of inaccurate particulars of such income, which culminated in imposition of penalties under section 271(1)(c), we do not find any infirmity or illegality in initiating the penalty proceeding - HC en-us Tue, 22 Feb 2022 11:17:27 +0530 Tue, 22 Feb 2022 11:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62067 Penalty levied u/s 271 (1) (c) - As the appellants had disclosed the income, after detection by the department and as per the terms of settlement, the assessing officer initiated the penalty proceedings, to which, the appellants / assesses did not submit any explanation to the effect that there was no concealment of income or furnishing of inaccurate particulars of such income, which culminated in imposition of penalties under section 271(1)(c), we do not find any infirmity or illegality in initiating the penalty proceeding - HC Highlights Income Tax Tue, 22 Feb 2022 11:17:27 +0530 https://www.taxtmi.com/highlights?id=62067