https://www.taxtmi.com/caselaws?id=63717 The Tribunal set aside the CIT(A) order and canceled the addition of Rs. 1,72,500 made by the AO in the Quantum Appeal. The penalty of Rs. 1,25,000 imposed on the assessee under Section 271(1)(c) was also canceled as the addition was deleted. The appeals were allowed, overturning the decisions of the AO and CIT(A). en-us Mon, 09 Nov 1992 00:00:00 +0530 Tue, 01 Feb 2011 14:51:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63717 The Tribunal set aside the CIT(A) order and canceled the addition of Rs. 1,72,500 made by the AO in the Quantum Appeal. The penalty of Rs. 1,25,000 imposed on the assessee under Section 271(1)(c) was also canceled as the addition was deleted. The appeals were allowed, overturning the decisions of the AO and CIT(A). Case-Laws Income Tax Mon, 09 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63717