https://www.taxtmi.com/caselaws?id=424042 The Appellate Tribunal ITAT DELHI upheld the penalty under section 271(1)(c) of the Income-tax Act, 1961, imposed for concealment of income. Despite initial concerns about the specificity of the penalty charge, the Tribunal ruled that clarity was evident from the assessment order, rejecting the appellant's argument. While acknowledging the importance of the issue, the Tribunal remitted the matter back to the ld. CIT (A) for further review in line with legal precedents. The appeal was allowed for statistical purposes, with parties granted the liberty to file necessary appeals after the ld. CIT (A)'s reconsideration. en-us Tue, 07 Jun 2022 00:00:00 +0530 Mon, 20 Jun 2022 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424042 The Appellate Tribunal ITAT DELHI upheld the penalty under section 271(1)(c) of the Income-tax Act, 1961, imposed for concealment of income. Despite initial concerns about the specificity of the penalty charge, the Tribunal ruled that clarity was evident from the assessment order, rejecting the appellant's argument. While acknowledging the importance of the issue, the Tribunal remitted the matter back to the ld. CIT (A) for further review in line with legal precedents. The appeal was allowed for statistical purposes, with parties granted the liberty to file necessary appeals after the ld. CIT (A)'s reconsideration. Case-Laws Income Tax Tue, 07 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424042