https://www.taxtmi.com/caselaws?id=261762 The ITAT Chennai upheld penalties under section 271(1)(c) for unexplained deposits in the assessment years 2005-2006 and 2006-2007. However, in the assessment year 2007-2008, the ITAT remitted the issue back for fresh consideration, partly allowing the appeal for statistical purposes. en-us Thu, 09 Jul 2015 00:00:00 +0530 Wed, 22 Jul 2015 06:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261762 The ITAT Chennai upheld penalties under section 271(1)(c) for unexplained deposits in the assessment years 2005-2006 and 2006-2007. However, in the assessment year 2007-2008, the ITAT remitted the issue back for fresh consideration, partly allowing the appeal for statistical purposes. Case-Laws Income Tax Thu, 09 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261762