https://www.taxtmi.com/caselaws?id=386634 The tribunal upheld the Principal Commissioner of Income Tax's decision to treat share capital/premium as unexplained cash credits, citing lack of investor verification and income justification. The tribunal also supported the imposition of penalty under Section 271(1)(c) for income concealment related to the unexplained cash credits. The appeals were dismissed, affirming the CIT's actions, with the order pronounced on 21/08/2019. en-us Wed, 21 Aug 2019 00:00:00 +0530 Fri, 04 Oct 2019 10:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386634 The tribunal upheld the Principal Commissioner of Income Tax's decision to treat share capital/premium as unexplained cash credits, citing lack of investor verification and income justification. The tribunal also supported the imposition of penalty under Section 271(1)(c) for income concealment related to the unexplained cash credits. The appeals were dismissed, affirming the CIT's actions, with the order pronounced on 21/08/2019. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386634