https://www.taxtmi.com/caselaws?id=267671 The Tribunal concluded that the addition of Rs. 5,18,000 under Section 41(1)(a) was not justified as the liability was from a previous year, and there was no remission or cessation during the relevant year. Consequently, the basis for the penalty under Section 271(1)(c) was invalid. The Tribunal deleted the penalty of Rs. 1,51,930, allowing the assessee's appeal. en-us Thu, 01 Oct 2015 00:00:00 +0530 Tue, 10 Nov 2015 21:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267671 The Tribunal concluded that the addition of Rs. 5,18,000 under Section 41(1)(a) was not justified as the liability was from a previous year, and there was no remission or cessation during the relevant year. Consequently, the basis for the penalty under Section 271(1)(c) was invalid. The Tribunal deleted the penalty of Rs. 1,51,930, allowing the assessee's appeal. Case-Laws Income Tax Thu, 01 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267671