https://www.taxtmi.com/caselaws?id=55516 The Tribunal confirmed the penalty imposed under s. 271(1)(c) on a construction firm for concealing income related to squared up cash credits. The revised return was filed after detection by the Department, disqualifying the firm from the Amnesty Scheme benefits. Despite citing case laws, the Tribunal found them inapplicable due to timing and legislative changes, upholding the penalty imposed by the Assessing Officer and affirmed by the CIT(A), ultimately dismissing the firm's appeal. en-us Fri, 04 Feb 1994 00:00:00 +0530 Sat, 27 Nov 2010 14:38:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55516 The Tribunal confirmed the penalty imposed under s. 271(1)(c) on a construction firm for concealing income related to squared up cash credits. The revised return was filed after detection by the Department, disqualifying the firm from the Amnesty Scheme benefits. Despite citing case laws, the Tribunal found them inapplicable due to timing and legislative changes, upholding the penalty imposed by the Assessing Officer and affirmed by the CIT(A), ultimately dismissing the firm's appeal. Case-Laws Income Tax Fri, 04 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55516