https://www.taxtmi.com/caselaws?id=330064 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was deemed unjustified as the unexplained capital contributions were made before the firm commenced its business, leading to the penalty being canceled. en-us Wed, 09 Mar 2016 00:00:00 +0530 Sat, 16 Jul 2016 12:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330064 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was deemed unjustified as the unexplained capital contributions were made before the firm commenced its business, leading to the penalty being canceled. Case-Laws Income Tax Wed, 09 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330064