https://www.taxtmi.com/caselaws?id=424553 The Appellate Tribunal upheld the penalty under section 271(1)(c) against the assessee for furnishing inaccurate particulars of income by claiming a bogus business loss without supporting evidence, despite the assessee's voluntary admission of the error during assessment proceedings. The Tribunal found that the surrender of income was not voluntary as it was prompted by detection by tax authorities, leading to the affirmation of the penalty imposed by the lower authorities. en-us Wed, 08 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 09:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424553 The Appellate Tribunal upheld the penalty under section 271(1)(c) against the assessee for furnishing inaccurate particulars of income by claiming a bogus business loss without supporting evidence, despite the assessee's voluntary admission of the error during assessment proceedings. The Tribunal found that the surrender of income was not voluntary as it was prompted by detection by tax authorities, leading to the affirmation of the penalty imposed by the lower authorities. Case-Laws Income Tax Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424553