https://www.taxtmi.com/caselaws?id=262408 The Tribunal allowed all appeals, deleting the penalties imposed under section 271(1)(c) for the assessment years 2005-06 to 2009-10. The Tribunal found that there was insufficient evidence to justify the penalties as there was no conclusive proof of income concealment or furnishing inaccurate particulars. Additionally, uncertainty regarding the true owner of the unaccounted income and lack of clarity on the penalty provisions led to the deletion of penalties for all appeals. en-us Fri, 19 Jun 2015 00:00:00 +0530 Mon, 10 Aug 2015 05:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262408 The Tribunal allowed all appeals, deleting the penalties imposed under section 271(1)(c) for the assessment years 2005-06 to 2009-10. The Tribunal found that there was insufficient evidence to justify the penalties as there was no conclusive proof of income concealment or furnishing inaccurate particulars. Additionally, uncertainty regarding the true owner of the unaccounted income and lack of clarity on the penalty provisions led to the deletion of penalties for all appeals. Case-Laws Income Tax Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262408