https://www.taxtmi.com/caselaws?id=35021 The Court upheld the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for the assessment year 2003-04. Despite the appellant's argument that offering additional income voluntarily should preclude penalty imposition, the Court found their inconsistent stance and failure to substantiate claims did not support this. Emphasizing the lack of substantiation and evidence provided by the appellant, the Court referenced legal precedents to justify the penalty imposition. Ultimately, the Court dismissed the appeal, affirming the penalty under section 271(1)(c) as legally sustainable based on the appellant's conduct and evidentiary shortcomings. en-us Mon, 20 Apr 2009 00:00:00 +0530 Tue, 01 Dec 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35021 The Court upheld the penalty imposed under section 271(1)(c) of the Income Tax Act on the appellant for the assessment year 2003-04. Despite the appellant's argument that offering additional income voluntarily should preclude penalty imposition, the Court found their inconsistent stance and failure to substantiate claims did not support this. Emphasizing the lack of substantiation and evidence provided by the appellant, the Court referenced legal precedents to justify the penalty imposition. Ultimately, the Court dismissed the appeal, affirming the penalty under section 271(1)(c) as legally sustainable based on the appellant's conduct and evidentiary shortcomings. Case-Laws Income Tax Mon, 20 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35021