https://www.taxtmi.com/caselaws?id=391160 The Tribunal allowed all three appeals filed by the assessee, directing the deletion of penalties related to the estimation of rental income, disallowance of depreciation on an air conditioner, and non-disclosure of interest income. The Tribunal emphasized the need for positive evidence of concealment to justify the levy of penalties, distinguishing between assessment proceedings and penalty proceedings. en-us Mon, 13 Jan 2020 00:00:00 +0530 Tue, 21 Jan 2020 08:17:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391160 The Tribunal allowed all three appeals filed by the assessee, directing the deletion of penalties related to the estimation of rental income, disallowance of depreciation on an air conditioner, and non-disclosure of interest income. The Tribunal emphasized the need for positive evidence of concealment to justify the levy of penalties, distinguishing between assessment proceedings and penalty proceedings. Case-Laws Income Tax Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391160