https://www.taxtmi.com/caselaws?id=368770 The Tribunal allowed the assessee's appeal, deleting the penalty imposed under section 158BFA(2) of the Income Tax Act, 1961. The Tribunal found that the assessee did not deliberately conceal undisclosed income and that the additions made during the block assessment period were not justified. The Tribunal noted the discrepancies in stock valuation and the explanation provided for unexplained cash, ultimately ruling in favor of the assessee and overturning the penalty imposition. en-us Wed, 10 Oct 2018 00:00:00 +0530 Sat, 13 Oct 2018 15:08:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368770 The Tribunal allowed the assessee's appeal, deleting the penalty imposed under section 158BFA(2) of the Income Tax Act, 1961. The Tribunal found that the assessee did not deliberately conceal undisclosed income and that the additions made during the block assessment period were not justified. The Tribunal noted the discrepancies in stock valuation and the explanation provided for unexplained cash, ultimately ruling in favor of the assessee and overturning the penalty imposition. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368770