https://www.taxtmi.com/caselaws?id=339396 The Tribunal allowed the Assessee's appeal entirely, directing the deletion of the addition of Rs. 42.20 lacs for unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal also allowed the interest claim and directed the levy of interest under Sections 234A, 234B, and 234C as per law. The Tribunal deemed the initiation of penalty under Section 271(1)(c) premature. The order was pronounced on 16-02-2017. en-us Thu, 16 Feb 2017 00:00:00 +0530 Tue, 21 Feb 2017 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339396 The Tribunal allowed the Assessee's appeal entirely, directing the deletion of the addition of Rs. 42.20 lacs for unexplained cash credits under Section 68 of the Income Tax Act. The Tribunal also allowed the interest claim and directed the levy of interest under Sections 234A, 234B, and 234C as per law. The Tribunal deemed the initiation of penalty under Section 271(1)(c) premature. The order was pronounced on 16-02-2017. Case-Laws Income Tax Thu, 16 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339396