https://www.taxtmi.com/caselaws?id=343417 The Tribunal partly allowed the appeal, upholding the penalty under Section 221 of the Income Tax Act while granting the assessee an opportunity to prove liquidity issues before the Assessing Officer. The decision was pronounced on 19th May 2017. en-us Fri, 19 May 2017 00:00:00 +0530 Sat, 20 May 2017 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343417 The Tribunal partly allowed the appeal, upholding the penalty under Section 221 of the Income Tax Act while granting the assessee an opportunity to prove liquidity issues before the Assessing Officer. The decision was pronounced on 19th May 2017. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343417