https://www.taxtmi.com/caselaws?id=384929 The tribunal affirmed the Principal Commissioner of Income Tax's decision to treat the share capital/premium as unexplained cash credits under Section 68 of the Income Tax Act, 1961, considering the lack of satisfactory explanation on the source of funds. The tribunal also upheld the penalty imposed under Section 271(1)(c) for concealing income related to the unexplained cash credits. The appeals by the assessee were dismissed, and the decision was pronounced on 21/08/2019. en-us Wed, 21 Aug 2019 00:00:00 +0530 Mon, 26 Aug 2019 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384929 The tribunal affirmed the Principal Commissioner of Income Tax's decision to treat the share capital/premium as unexplained cash credits under Section 68 of the Income Tax Act, 1961, considering the lack of satisfactory explanation on the source of funds. The tribunal also upheld the penalty imposed under Section 271(1)(c) for concealing income related to the unexplained cash credits. The appeals by the assessee were dismissed, and the decision was pronounced on 21/08/2019. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384929