https://www.taxtmi.com/caselaws?id=252010 The Tribunal upheld the CIT(A)'s decision to delete additions for unexplained differences in capital account, household expenses, and alleged unexplained gift. The penalties imposed under section 271(1)(c) for multiple assessment years were quashed, as the additions in the quantum proceedings were deleted. The Revenue's appeals were dismissed, with the Tribunal finding the assessee's explanations well-supported by evidence and unchallenged by the Revenue. The cross objections filed by the assessee were dismissed as not pressed. en-us Fri, 26 Sep 2014 00:00:00 +0530 Wed, 08 Oct 2014 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252010 The Tribunal upheld the CIT(A)'s decision to delete additions for unexplained differences in capital account, household expenses, and alleged unexplained gift. The penalties imposed under section 271(1)(c) for multiple assessment years were quashed, as the additions in the quantum proceedings were deleted. The Revenue's appeals were dismissed, with the Tribunal finding the assessee's explanations well-supported by evidence and unchallenged by the Revenue. The cross objections filed by the assessee were dismissed as not pressed. Case-Laws Income Tax Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252010