https://www.taxtmi.com/caselaws?id=389470 The Tribunal partly allowed the assessee's appeal and fully allowed the Revenue's appeal regarding penalty proceedings under sections 271AAA and 271(1)(c) of the Income Tax Act. The Tribunal held that section 271AAA was not applicable in this case and upheld penalties under section 271(1)(c) for instances of unaccounted cash transactions, disallowed expenses, non-compliance with TDS provisions, negative cash balance, and inaccurate particulars of income. The order was pronounced on November 28, 2019, in Chennai. en-us Thu, 28 Nov 2019 00:00:00 +0530 Mon, 09 Dec 2019 14:09:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389470 The Tribunal partly allowed the assessee's appeal and fully allowed the Revenue's appeal regarding penalty proceedings under sections 271AAA and 271(1)(c) of the Income Tax Act. The Tribunal held that section 271AAA was not applicable in this case and upheld penalties under section 271(1)(c) for instances of unaccounted cash transactions, disallowed expenses, non-compliance with TDS provisions, negative cash balance, and inaccurate particulars of income. The order was pronounced on November 28, 2019, in Chennai. Case-Laws Income Tax Thu, 28 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389470