https://www.taxtmi.com/caselaws?id=390633 The ITAT partially allowed the appeal, ruling that the penalty of Rs. 1,03,86,055 on the surrendered income of Rs. 3 crores was unsustainable due to lack of concealment or inaccurate particulars in the return. The penalty related to the addition of Rs. 10,565 for short rental income was upheld, as it constituted clear concealment. en-us Fri, 29 Nov 2019 00:00:00 +0530 Thu, 07 Nov 2024 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390633 The ITAT partially allowed the appeal, ruling that the penalty of Rs. 1,03,86,055 on the surrendered income of Rs. 3 crores was unsustainable due to lack of concealment or inaccurate particulars in the return. The penalty related to the addition of Rs. 10,565 for short rental income was upheld, as it constituted clear concealment. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390633