https://www.taxtmi.com/caselaws?id=268817 The Tribunal partly allowed the assessee's appeal, deleting penalties related to estimated additions for the sale of paddy and rice but upholding the penalty for unexplained cash deposits. The Tribunal directed the Assessing Officer to levy the penalty only on the Rs. 14 Lacs addition for unexplained cash deposits. In a similar appeal, penalties related to the sale of rice and paddy at lower prices were deleted, but the penalty for cash deposits of Rs. 5,30,000/- was upheld. The final order was pronounced on 07/11/2014. en-us Fri, 07 Nov 2014 00:00:00 +0530 Wed, 02 Dec 2015 22:20:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268817 The Tribunal partly allowed the assessee's appeal, deleting penalties related to estimated additions for the sale of paddy and rice but upholding the penalty for unexplained cash deposits. The Tribunal directed the Assessing Officer to levy the penalty only on the Rs. 14 Lacs addition for unexplained cash deposits. In a similar appeal, penalties related to the sale of rice and paddy at lower prices were deleted, but the penalty for cash deposits of Rs. 5,30,000/- was upheld. The final order was pronounced on 07/11/2014. Case-Laws Income Tax Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268817