https://www.taxtmi.com/caselaws?id=361722 The tribunal allowed the appeal in favor of the assessee regarding the quantum addition, finding the liabilities were not extinguished but suspended due to pending resolution before BIFR. The tribunal dismissed the revenue's appeal against penalty deletion, affirming Ld. CIT (A)'s decision, noting no concealment of income or inaccurate particulars. The Cross Objection by the assessee challenging the penalty order was not pressed and dismissed. en-us Fri, 08 Jun 2018 00:00:00 +0530 Tue, 12 Jun 2018 21:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361722 The tribunal allowed the appeal in favor of the assessee regarding the quantum addition, finding the liabilities were not extinguished but suspended due to pending resolution before BIFR. The tribunal dismissed the revenue's appeal against penalty deletion, affirming Ld. CIT (A)'s decision, noting no concealment of income or inaccurate particulars. The Cross Objection by the assessee challenging the penalty order was not pressed and dismissed. Case-Laws Income Tax Fri, 08 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361722