https://www.taxtmi.com/caselaws?id=328502 The Tribunal partially allowed the appeal, confirming a penalty of Rs. 2.50 lacs under Section 271(1)(c) for unexplained cash deposits. The issue of a Rs. 14 lacs deposit was remanded for further verification due to insufficient evidence on medical expenses. The decision emphasized the necessity of credible evidence and consistent explanations by the assessee, aligning with legal principles. en-us Fri, 06 May 2016 00:00:00 +0530 Mon, 06 Jun 2016 12:08:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328502 The Tribunal partially allowed the appeal, confirming a penalty of Rs. 2.50 lacs under Section 271(1)(c) for unexplained cash deposits. The issue of a Rs. 14 lacs deposit was remanded for further verification due to insufficient evidence on medical expenses. The decision emphasized the necessity of credible evidence and consistent explanations by the assessee, aligning with legal principles. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328502