https://www.taxtmi.com/caselaws?id=429800 The appeal challenging the concealment penalty imposed on the assessee under section 271(1)(c) of the Income-tax Act, 1961 for A.Y. 2001-02 was dismissed. The penalty of Rs. 2,60,323/- was confirmed by the ld. CIT(A) based on the final assessed income amounts upheld by the Co-ordinate Bench. The decision was supported by precedents from the Hon'ble Supreme Court and the Hon'ble Jurisdictional High Court of Bombay. Despite arguments presented by the assessee, the penalty was upheld as justified, leading to the dismissal of the appeal on 02.09.2022. en-us Fri, 02 Sep 2022 00:00:00 +0530 Fri, 20 Feb 2026 17:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429800 The appeal challenging the concealment penalty imposed on the assessee under section 271(1)(c) of the Income-tax Act, 1961 for A.Y. 2001-02 was dismissed. The penalty of Rs. 2,60,323/- was confirmed by the ld. CIT(A) based on the final assessed income amounts upheld by the Co-ordinate Bench. The decision was supported by precedents from the Hon'ble Supreme Court and the Hon'ble Jurisdictional High Court of Bombay. Despite arguments presented by the assessee, the penalty was upheld as justified, leading to the dismissal of the appeal on 02.09.2022. Case-Laws Income Tax Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429800