https://www.taxtmi.com/caselaws?id=384582 The Tribunal directed the AO to give the assessee a final opportunity to produce parties to substantiate unexplained cash deposits. The penalty under section 271(1)(c) of the Income Tax Act was canceled due to the restoration of the quantum addition issue, allowing fresh penalty proceedings post-assessment. The judgment stressed the need for due process and substantiation of claims, emphasizing proper adherence to legal procedures in tax assessments and penalties. en-us Wed, 14 Aug 2019 00:00:00 +0530 Fri, 16 Aug 2019 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384582 The Tribunal directed the AO to give the assessee a final opportunity to produce parties to substantiate unexplained cash deposits. The penalty under section 271(1)(c) of the Income Tax Act was canceled due to the restoration of the quantum addition issue, allowing fresh penalty proceedings post-assessment. The judgment stressed the need for due process and substantiation of claims, emphasizing proper adherence to legal procedures in tax assessments and penalties. Case-Laws Income Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384582