https://www.taxtmi.com/caselaws?id=255314 The Tribunal set aside the penalty imposed under Section 271(1)(c) amounting to Rs. 52,50,000, holding that the explanation provided by the assessee was bona fide. The penalty was quashed, and the appeal filed by the assessee was allowed. en-us Fri, 09 Jan 2015 00:00:00 +0530 Wed, 14 Jan 2015 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255314 The Tribunal set aside the penalty imposed under Section 271(1)(c) amounting to Rs. 52,50,000, holding that the explanation provided by the assessee was bona fide. The penalty was quashed, and the appeal filed by the assessee was allowed. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255314