https://www.taxtmi.com/caselaws?id=55781 The Tribunal upheld the levy of penalty under section 271(1)(c) of the Income Tax Act, finding that the assessee concealed income and furnished inaccurate particulars in the original return. The revised return, filed after detection, was deemed non-voluntary. Statements made by a third party were considered relevant and binding as the assessee acted upon them. The procedural challenge raised by the assessee was dismissed, and the penalty imposition was found to be procedurally correct. The appeal of the assessee was ultimately dismissed. en-us Thu, 31 Oct 2002 00:00:00 +0530 Tue, 30 Nov 2010 09:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55781 The Tribunal upheld the levy of penalty under section 271(1)(c) of the Income Tax Act, finding that the assessee concealed income and furnished inaccurate particulars in the original return. The revised return, filed after detection, was deemed non-voluntary. Statements made by a third party were considered relevant and binding as the assessee acted upon them. The procedural challenge raised by the assessee was dismissed, and the penalty imposition was found to be procedurally correct. The appeal of the assessee was ultimately dismissed. Case-Laws Income Tax Thu, 31 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55781