https://www.taxtmi.com/caselaws?id=260348 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete penalties on unexplained investment in house property and marriage expenditure. The judgment emphasized the need for concrete evidence in penalty imposition and upheld the discretion that penalties for estimated additions are not mandatory under section 158BFA(2) of the Income-tax Act, 1961. en-us Fri, 13 Mar 2015 00:00:00 +0530 Wed, 10 Jun 2015 06:03:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260348 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete penalties on unexplained investment in house property and marriage expenditure. The judgment emphasized the need for concrete evidence in penalty imposition and upheld the discretion that penalties for estimated additions are not mandatory under section 158BFA(2) of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260348