https://www.taxtmi.com/caselaws?id=387505 The Tribunal upheld the CIT (A)'s decision to reduce the addition on unverifiable purchases and delete the undisclosed interest income addition. The penalty under section 271(1)(c) was deleted as it was based on estimated income, not conclusive proof of concealment. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. en-us Fri, 04 Oct 2019 00:00:00 +0530 Thu, 24 Oct 2019 09:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387505 The Tribunal upheld the CIT (A)'s decision to reduce the addition on unverifiable purchases and delete the undisclosed interest income addition. The penalty under section 271(1)(c) was deleted as it was based on estimated income, not conclusive proof of concealment. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387505