https://www.taxtmi.com/caselaws?id=284980 The Tribunal allowed the assessee's appeals for both assessment years, deleting the penalties imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal emphasized the absence of incriminating evidence and held that Explanation 5A could not apply without such evidence. Distinguishing precedents, the Tribunal concluded that penalties cannot be imposed without incriminating documents. The judgment was pronounced on 19/07/2019 at Ahmedabad. en-us Fri, 19 Jul 2019 00:00:00 +0530 Sat, 28 Dec 2019 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284980 The Tribunal allowed the assessee's appeals for both assessment years, deleting the penalties imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal emphasized the absence of incriminating evidence and held that Explanation 5A could not apply without such evidence. Distinguishing precedents, the Tribunal concluded that penalties cannot be imposed without incriminating documents. The judgment was pronounced on 19/07/2019 at Ahmedabad. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284980