https://www.taxtmi.com/caselaws?id=181345 The Tribunal partially allowed the Assessee's appeal regarding the addition of Rs. 59,56,000 as unexplained share application money. Out of the total addition, Rs. 15,18,000 was confirmed to be taxed in the Assessee's hands. The Tribunal also allowed the Assessee's appeal against the denial of deduction under Section 80I and granted relief due to the order being passed beyond the prescribed limitation. Regarding the penalty imposed under Section 271(1)(c), the Tribunal directed the AO to recompute the penalty based on the confirmed addition of Rs. 15,18,000, granting partial relief to the Assessee. en-us Thu, 30 Jun 2011 00:00:00 +0530 Wed, 13 Apr 2016 18:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181345 The Tribunal partially allowed the Assessee's appeal regarding the addition of Rs. 59,56,000 as unexplained share application money. Out of the total addition, Rs. 15,18,000 was confirmed to be taxed in the Assessee's hands. The Tribunal also allowed the Assessee's appeal against the denial of deduction under Section 80I and granted relief due to the order being passed beyond the prescribed limitation. Regarding the penalty imposed under Section 271(1)(c), the Tribunal directed the AO to recompute the penalty based on the confirmed addition of Rs. 15,18,000, granting partial relief to the Assessee. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181345