https://www.taxtmi.com/caselaws?id=218116 The Tribunal upheld the penalty for the undisclosed income of Rs. 16.25 lakh, as the assessee failed to substantiate its explanation. The penalty was not imposed on the enhanced amount of Rs. 2,23,039/-. The appeal was partly allowed, confirming the penalty on the reduced amount. en-us Wed, 04 Apr 2012 00:00:00 +0530 Mon, 05 Nov 2012 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218116 The Tribunal upheld the penalty for the undisclosed income of Rs. 16.25 lakh, as the assessee failed to substantiate its explanation. The penalty was not imposed on the enhanced amount of Rs. 2,23,039/-. The appeal was partly allowed, confirming the penalty on the reduced amount. Case-Laws Income Tax Wed, 04 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218116