https://www.taxtmi.com/caselaws?id=19869 The Appellate Tribunal ruled in favor of the assessee, finding that the addition of payments for counterfeit notes and cash deficit additions were not sustainable due to lack of evidence and proper verification. The Tribunal also canceled the penalty imposed under section 271(1)(c) of the Act, as there was no proof of actual expenditure. The judgment affirmed the Tribunal's decisions on all three issues, ultimately ruling against the Revenue and not awarding any costs. en-us Mon, 17 Jan 1994 00:00:00 +0530 Tue, 10 Nov 2009 13:03:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19869 The Appellate Tribunal ruled in favor of the assessee, finding that the addition of payments for counterfeit notes and cash deficit additions were not sustainable due to lack of evidence and proper verification. The Tribunal also canceled the penalty imposed under section 271(1)(c) of the Act, as there was no proof of actual expenditure. The judgment affirmed the Tribunal's decisions on all three issues, ultimately ruling against the Revenue and not awarding any costs. Case-Laws Income Tax Mon, 17 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19869