https://www.taxtmi.com/caselaws?id=68828 The appeal by the revenue was partly allowed, restoring the penalty in respect of the gift from Shri Vimlesh Kumar, while the penalty in respect of the other two gifts was canceled. The cross-objection filed by the assessee was dismissed, upholding the validity of the penalty proceedings. en-us Fri, 20 Jun 2008 00:00:00 +0530 Fri, 01 Apr 2011 18:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68828 The appeal by the revenue was partly allowed, restoring the penalty in respect of the gift from Shri Vimlesh Kumar, while the penalty in respect of the other two gifts was canceled. The cross-objection filed by the assessee was dismissed, upholding the validity of the penalty proceedings. Case-Laws Income Tax Fri, 20 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68828