https://www.taxtmi.com/caselaws?id=183332 The Tribunal held that the penalty under Section 271(1)(c) was not justified for the addition of Rs. 1,17,50,000 as unexplained investment due to lack of evidence of concealment. Similarly, the penalty for the addition of Rs. 25,00,000 was deemed unjustified as concealment was not established by the Assessing Officer. Consequently, the assessee's appeal was allowed, and the Revenue's appeal was dismissed. The Tribunal's decision was pronounced on 28th August 2014. en-us Thu, 28 Aug 2014 00:00:00 +0530 Mon, 06 Jun 2016 11:27:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183332 The Tribunal held that the penalty under Section 271(1)(c) was not justified for the addition of Rs. 1,17,50,000 as unexplained investment due to lack of evidence of concealment. Similarly, the penalty for the addition of Rs. 25,00,000 was deemed unjustified as concealment was not established by the Assessing Officer. Consequently, the assessee's appeal was allowed, and the Revenue's appeal was dismissed. The Tribunal's decision was pronounced on 28th August 2014. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183332