https://www.taxtmi.com/caselaws?id=198872 Penalty under section 271(1)(c) could not survive once the underlying quantum additions were deleted in appeal. The Tribunal noted that the additions were based on alleged receipts treated as advances, and that the tax authorities' conclusions lacked credible evidence. As the foundation for the penalty ceased to exist and concealment was not independently established, the penalty was deleted and the connected appeals were allowed. en-us Tue, 10 Feb 2015 00:00:00 +0530 Sun, 11 Feb 2018 20:22:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198872 Penalty under section 271(1)(c) could not survive once the underlying quantum additions were deleted in appeal. The Tribunal noted that the additions were based on alleged receipts treated as advances, and that the tax authorities' conclusions lacked credible evidence. As the foundation for the penalty ceased to exist and concealment was not independently established, the penalty was deleted and the connected appeals were allowed. Case-Laws Income Tax Tue, 10 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198872