https://www.taxtmi.com/caselaws?id=11684 Penalty under section 271(1)(c) was held not exigible where the Tribunal found that the loan was received through bank drafts, routed through banking channels, reflected in the bank accounts, and confirmed by the lender. Those factual findings, based on the record, did not support concealment or furnishing of inaccurate particulars for the relevant assessment year. The non-challenge of a quantum addition for a different assessment year did not by itself establish penalty liability for the year in question, and no perversity in the Tribunal's appreciation of evidence was shown; the deletion of penalty was upheld. en-us Tue, 26 Nov 2002 00:00:00 +0530 Fri, 05 Feb 2010 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11684 Penalty under section 271(1)(c) was held not exigible where the Tribunal found that the loan was received through bank drafts, routed through banking channels, reflected in the bank accounts, and confirmed by the lender. Those factual findings, based on the record, did not support concealment or furnishing of inaccurate particulars for the relevant assessment year. The non-challenge of a quantum addition for a different assessment year did not by itself establish penalty liability for the year in question, and no perversity in the Tribunal's appreciation of evidence was shown; the deletion of penalty was upheld. Case-Laws Income Tax Tue, 26 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11684