https://www.taxtmi.com/caselaws?id=207489 The Tribunal upheld the penalty related to the loss on the sale of assets, citing lack of bona fide explanation. However, the penalty related to the bad debts addition was deleted as it did not involve concealment or furnishing inaccurate particulars. The appeal was dismissed, affirming the imposition of penalties under section 271(1)(c) of the Income Tax Act. en-us Thu, 30 Sep 2010 00:00:00 +0530 Wed, 14 Dec 2011 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207489 The Tribunal upheld the penalty related to the loss on the sale of assets, citing lack of bona fide explanation. However, the penalty related to the bad debts addition was deleted as it did not involve concealment or furnishing inaccurate particulars. The appeal was dismissed, affirming the imposition of penalties under section 271(1)(c) of the Income Tax Act. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207489