https://www.taxtmi.com/caselaws?id=364308 The ITAT upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the assessee failed to substantiate the explanation for cash deposits and disclose all material facts. Additionally, the ITAT found that seeking permission from the Additional Commissioner, instead of the Joint Commissioner, was valid under the law. Therefore, the appeal of the assessee was dismissed. en-us Fri, 20 Jul 2018 00:00:00 +0530 Thu, 26 Jul 2018 08:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364308 The ITAT upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the assessee failed to substantiate the explanation for cash deposits and disclose all material facts. Additionally, the ITAT found that seeking permission from the Additional Commissioner, instead of the Joint Commissioner, was valid under the law. Therefore, the appeal of the assessee was dismissed. Case-Laws Income Tax Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364308