https://www.taxtmi.com/caselaws?id=70923 The Tribunal dismissed both appeals filed by the Revenue. It upheld the CIT(A)'s decisions to delete the addition of Rs. 2,80,000 on account of unexplained loans and to cancel the penalty of Rs. 2,40,000 levied under Section 271(1)(c). The Tribunal found that the assessee had provided sufficient evidence and that the Revenue failed to prove concealment of income or furnishing inaccurate particulars. en-us Fri, 07 Oct 2005 00:00:00 +0530 Fri, 27 Jul 2012 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70923 The Tribunal dismissed both appeals filed by the Revenue. It upheld the CIT(A)'s decisions to delete the addition of Rs. 2,80,000 on account of unexplained loans and to cancel the penalty of Rs. 2,40,000 levied under Section 271(1)(c). The Tribunal found that the assessee had provided sufficient evidence and that the Revenue failed to prove concealment of income or furnishing inaccurate particulars. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70923