https://www.taxtmi.com/caselaws?id=354253 The Tribunal ruled in favor of the assessee, deleting the penalty on both the deemed dividend and unexplained investment additions. It emphasized the requirement for concrete evidence and proper charge specification under section 271(1)(c) for penalty imposition. The judgment stressed the importance of substantial material to support penalties and acknowledged the significance of plausible explanations in property valuation disputes. en-us Fri, 19 Jan 2018 00:00:00 +0530 Sun, 21 Jan 2018 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354253 The Tribunal ruled in favor of the assessee, deleting the penalty on both the deemed dividend and unexplained investment additions. It emphasized the requirement for concrete evidence and proper charge specification under section 271(1)(c) for penalty imposition. The judgment stressed the importance of substantial material to support penalties and acknowledged the significance of plausible explanations in property valuation disputes. Case-Laws Income Tax Fri, 19 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354253