https://www.taxtmi.com/caselaws?id=395146 The appeal for assessment year 2011-12 was allowed as the penalty imposed under section 271(1)(c) was deemed unjustified by the Appellate Tribunal ITAT Pune. The penalty for concealment of income was challenged, citing legal precedent that penalty cannot be imposed for a different ground than the one initiated. Consequently, the penalty imposed by the AO was quashed. However, the appeal for assessment year 2012-13 was dismissed as the addition of 10% based on purchases from Hawala operators was upheld by the tribunal, following the CIT(A)'s decision and relying on a previous tribunal order. en-us Mon, 16 Dec 2019 00:00:00 +0530 Fri, 08 May 2020 11:01:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395146 The appeal for assessment year 2011-12 was allowed as the penalty imposed under section 271(1)(c) was deemed unjustified by the Appellate Tribunal ITAT Pune. The penalty for concealment of income was challenged, citing legal precedent that penalty cannot be imposed for a different ground than the one initiated. Consequently, the penalty imposed by the AO was quashed. However, the appeal for assessment year 2012-13 was dismissed as the addition of 10% based on purchases from Hawala operators was upheld by the tribunal, following the CIT(A)'s decision and relying on a previous tribunal order. Case-Laws Income Tax Mon, 16 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395146