https://www.taxtmi.com/caselaws?id=219188 The Tribunal allowed the assessee's appeal, canceling the penalties imposed under Section 271(1)(c) for unaccounted sales and interest-free loans/advances to group concerns. The Tribunal emphasized the necessity of concrete evidence and the AO's obligation to prove concealment or furnishing inaccurate particulars before imposing penalties. en-us Tue, 31 Jan 2012 00:00:00 +0530 Thu, 22 Nov 2012 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219188 The Tribunal allowed the assessee's appeal, canceling the penalties imposed under Section 271(1)(c) for unaccounted sales and interest-free loans/advances to group concerns. The Tribunal emphasized the necessity of concrete evidence and the AO's obligation to prove concealment or furnishing inaccurate particulars before imposing penalties. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219188