https://www.taxtmi.com/caselaws?id=188887 The ITAT partially allowed the assessee's appeal for A.Y. 2007-08, confirming the penalty on disallowed expenses but deleting the penalty on unproved cash credits. The ITAT emphasized the importance of substantiating claims and providing necessary evidence to avoid penalties under the Income Tax Act, stating that a mere unsustainable claim does not automatically imply inaccurate particulars of income. en-us Fri, 04 Dec 2015 00:00:00 +0530 Tue, 20 Dec 2016 09:43:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188887 The ITAT partially allowed the assessee's appeal for A.Y. 2007-08, confirming the penalty on disallowed expenses but deleting the penalty on unproved cash credits. The ITAT emphasized the importance of substantiating claims and providing necessary evidence to avoid penalties under the Income Tax Act, stating that a mere unsustainable claim does not automatically imply inaccurate particulars of income. Case-Laws Income Tax Fri, 04 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188887