https://www.taxtmi.com/caselaws?id=275072 The ITAT upheld the CIT(A)'s decision to dismiss the appellant's appeal in ITA No. 1024/Hyd/16 regarding the addition of unexplained income under section 68 of the Income-tax Act, 1961. However, the ITAT allowed the appellant's appeal in ITA No. 1025/Hyd/2016 concerning the penalty confirmation under section 271(1)(c) of the Act, overturning the penalty imposed by the AO. The judgments were pronounced on 26th May 2017 by the ITAT Hyderabad. en-us Fri, 26 May 2017 00:00:00 +0530 Mon, 17 Sep 2018 20:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275072 The ITAT upheld the CIT(A)'s decision to dismiss the appellant's appeal in ITA No. 1024/Hyd/16 regarding the addition of unexplained income under section 68 of the Income-tax Act, 1961. However, the ITAT allowed the appellant's appeal in ITA No. 1025/Hyd/2016 concerning the penalty confirmation under section 271(1)(c) of the Act, overturning the penalty imposed by the AO. The judgments were pronounced on 26th May 2017 by the ITAT Hyderabad. Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275072