https://www.taxtmi.com/caselaws?id=66296 The Tribunal upheld the assessment of additional income from other sources for the appellant for the assessment year 1970-71, reducing it to Rs. 24,000 from the initial Rs. 34,000 determined by the ITO. Additionally, the Tribunal quashed the penalty imposed under section 271(1)(c) of the IT Act, directing the ITO to refund any collected amount, as the conditions for penalty were not proven by the department. The appeal on the penalty issue succeeded, and the penalty was dismissed. en-us Thu, 30 Aug 1979 00:00:00 +0530 Sat, 03 Sep 2011 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66296 The Tribunal upheld the assessment of additional income from other sources for the appellant for the assessment year 1970-71, reducing it to Rs. 24,000 from the initial Rs. 34,000 determined by the ITO. Additionally, the Tribunal quashed the penalty imposed under section 271(1)(c) of the IT Act, directing the ITO to refund any collected amount, as the conditions for penalty were not proven by the department. The appeal on the penalty issue succeeded, and the penalty was dismissed. Case-Laws Income Tax Thu, 30 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66296