https://www.taxtmi.com/caselaws?id=272902 The appeal challenging a penalty under section 271(1)(c) of the Income Tax Act, 1961 was partly allowed. The penalty was confirmed to a certain extent based on turnover and cash deposits, with a portion of the penalty amount deleted. The appellant's explanation regarding business dealings was partially accepted, resulting in the partial allowance of the appeal. The judgment was pronounced by the Appellate Tribunal ITAT Ahmedabad on September 22, 2017. en-us Fri, 22 Sep 2017 00:00:00 +0530 Thu, 24 May 2018 08:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272902 The appeal challenging a penalty under section 271(1)(c) of the Income Tax Act, 1961 was partly allowed. The penalty was confirmed to a certain extent based on turnover and cash deposits, with a portion of the penalty amount deleted. The appellant's explanation regarding business dealings was partially accepted, resulting in the partial allowance of the appeal. The judgment was pronounced by the Appellate Tribunal ITAT Ahmedabad on September 22, 2017. Case-Laws Income Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272902