https://www.taxtmi.com/caselaws?id=173786 The Appellate Tribunal ITAT AHMEDABAD dismissed the Revenue's appeal against the deletion of a penalty of Rs. 29,25,280/- under section 271(1)(c) of the Income Tax Act. The Tribunal found that the addition made by the authorities lacked concrete evidence linking the undisclosed income to the assessee, emphasizing the need for legal proof. As the addition was set aside by the Tribunal, no penalty was justified, leading to the affirmation of the penalty deletion. en-us Mon, 25 Jun 2012 00:00:00 +0530 Tue, 22 Sep 2015 14:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173786 The Appellate Tribunal ITAT AHMEDABAD dismissed the Revenue's appeal against the deletion of a penalty of Rs. 29,25,280/- under section 271(1)(c) of the Income Tax Act. The Tribunal found that the addition made by the authorities lacked concrete evidence linking the undisclosed income to the assessee, emphasizing the need for legal proof. As the addition was set aside by the Tribunal, no penalty was justified, leading to the affirmation of the penalty deletion. Case-Laws Income Tax Mon, 25 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173786