https://www.taxtmi.com/highlights?id=50340 Penalty u/s 271(1)(c) - Since the addition itself ought not have been made in the hands of the assessee, because this bank account did not belong to the assessee, rather it belonged to HUF, therefore, for the purpose of penalty, we are satisfied that the assessee does not deserves to be visited with penalty in these circumstances. en-us Fri, 22 Nov 2019 10:00:36 +0530 Fri, 22 Nov 2019 10:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50340 Penalty u/s 271(1)(c) - Since the addition itself ought not have been made in the hands of the assessee, because this bank account did not belong to the assessee, rather it belonged to HUF, therefore, for the purpose of penalty, we are satisfied that the assessee does not deserves to be visited with penalty in these circumstances. Highlights Income Tax Fri, 22 Nov 2019 10:00:36 +0530 https://www.taxtmi.com/highlights?id=50340