https://www.taxtmi.com/caselaws?id=331486 The Tribunal upheld the decision to dismiss the penalty imposed on the individual in a case involving discrepancies in loan disbursement and investment sources. The Commissioner of Income Tax (Appeals) had deleted the penalty, emphasizing that the remaining loan amount did not constitute concealment of income. The Tribunal found that the individual had provided sufficient evidence to support the loan disbursements and construction costs, leading to the dismissal of the Revenue's appeal and affirming the decision of the Commissioner of Income Tax (Appeals). en-us Fri, 17 Jun 2016 00:00:00 +0530 Wed, 24 Aug 2016 11:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331486 The Tribunal upheld the decision to dismiss the penalty imposed on the individual in a case involving discrepancies in loan disbursement and investment sources. The Commissioner of Income Tax (Appeals) had deleted the penalty, emphasizing that the remaining loan amount did not constitute concealment of income. The Tribunal found that the individual had provided sufficient evidence to support the loan disbursements and construction costs, leading to the dismissal of the Revenue's appeal and affirming the decision of the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 17 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331486