https://www.taxtmi.com/caselaws?id=289814 The Tribunal dismissed the appeals for the assessment years 2003-04 and 2004-05 but allowed the appeals for the assessment years 2005-06 and 2006-07 in part. The additions made under sections 2(24)(iv) and 2(22)(e) were deleted for the latter years, and the penalties imposed under section 271(1)(c) were also canceled. The Tribunal emphasized that penalty proceedings require conclusive proof of concealment, which was not established in this case. en-us Mon, 28 Oct 2013 00:00:00 +0530 Mon, 24 Aug 2020 11:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289814 The Tribunal dismissed the appeals for the assessment years 2003-04 and 2004-05 but allowed the appeals for the assessment years 2005-06 and 2006-07 in part. The additions made under sections 2(24)(iv) and 2(22)(e) were deleted for the latter years, and the penalties imposed under section 271(1)(c) were also canceled. The Tribunal emphasized that penalty proceedings require conclusive proof of concealment, which was not established in this case. Case-Laws Income Tax Mon, 28 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289814