https://www.taxtmi.com/caselaws?id=336645 The Tribunal allowed the appeal, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty was unjustified as the assessee had provided a satisfactory explanation for the unaccounted receipts. Therefore, the order confirming the penalty was set aside, and the penalty amount was deleted. en-us Thu, 22 Dec 2016 00:00:00 +0530 Mon, 26 Dec 2016 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336645 The Tribunal allowed the appeal, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty was unjustified as the assessee had provided a satisfactory explanation for the unaccounted receipts. Therefore, the order confirming the penalty was set aside, and the penalty amount was deleted. Case-Laws Income Tax Thu, 22 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336645