https://www.taxtmi.com/caselaws?id=394309 The Tribunal upheld the penalty imposed by the AO under section 271(1)(c) of the Income Tax Act, confirming the addition of unexplained cash credits under section 68. The assessee's failure to provide essential details regarding the cash credits led to a finding of inaccurate particulars of income, justifying the penalty. The Tribunal rejected the argument that the penalty order lacked specificity, emphasizing that mentioning the specific charge of furnishing inaccurate particulars was sufficient. The appeal of the assessee was dismissed, and the penalty was upheld. en-us Thu, 23 Jan 2020 00:00:00 +0530 Wed, 08 Apr 2020 17:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394309 The Tribunal upheld the penalty imposed by the AO under section 271(1)(c) of the Income Tax Act, confirming the addition of unexplained cash credits under section 68. The assessee's failure to provide essential details regarding the cash credits led to a finding of inaccurate particulars of income, justifying the penalty. The Tribunal rejected the argument that the penalty order lacked specificity, emphasizing that mentioning the specific charge of furnishing inaccurate particulars was sufficient. The appeal of the assessee was dismissed, and the penalty was upheld. Case-Laws Income Tax Thu, 23 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394309