https://www.taxtmi.com/caselaws?id=425667 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, dismissing the appeal by the assessee. The penalty was levied for unaccounted income added by the Assessing Officer, despite the assessee's challenges and lack of specificity in the notice issued for penalty proceedings. The Tribunal emphasized the agreement for the income addition during assessment and the lack of specific grounds raised by the assessee as reasons for upholding the penalty. en-us Tue, 26 Jul 2022 00:00:00 +0530 Thu, 28 Jul 2022 09:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425667 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, dismissing the appeal by the assessee. The penalty was levied for unaccounted income added by the Assessing Officer, despite the assessee's challenges and lack of specificity in the notice issued for penalty proceedings. The Tribunal emphasized the agreement for the income addition during assessment and the lack of specific grounds raised by the assessee as reasons for upholding the penalty. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425667