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2010 (12) TMI 247 - AT - Income TaxReview - The assessee is a partnership firm engaged in the business of stevedoring - It claimed to have paid commission of Rs. 1,71,49,967 during the year to various parties which were 14 in number - It claimed to have paid commission of Rs. 1,71,49,967 during the year to various parties which were 14 in number - Assessing Officer had initiated proceedings for the levy of penalty for concealment of income or furnishing of inaccurate particulars thereof on the assessee u/s. 271(1)(c) r.w. section 274 of the I.T. Act - The decision of the Tribunal is based on an overall appreciation of the evidence and conduct of the assessee - whether it was contumacious or not - The miscellaneous application filed by the assessee is rejected
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