https://www.taxtmi.com/caselaws?id=20650 HC set aside penalty under section 271(1)(c) imposed on the assessee, holding that additions under section 69A do not automatically justify penalty and that the quasi-criminal burden lies heavily on the Revenue. The Inspecting Assistant Commissioner imposed penalty solely because additions were made and accepted, without invoking the Explanation to section 271(1)(c); absent that invocation, the penalty could not be sustained. The court answered the issues in favour of the assessee and cancelled the penalty. en-us Tue, 23 Feb 1993 00:00:00 +0530 Thu, 23 Oct 2025 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20650 HC set aside penalty under section 271(1)(c) imposed on the assessee, holding that additions under section 69A do not automatically justify penalty and that the quasi-criminal burden lies heavily on the Revenue. The Inspecting Assistant Commissioner imposed penalty solely because additions were made and accepted, without invoking the Explanation to section 271(1)(c); absent that invocation, the penalty could not be sustained. The court answered the issues in favour of the assessee and cancelled the penalty. Case-Laws Income Tax Tue, 23 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20650