https://www.taxtmi.com/caselaws?id=296786 The Tribunal allowed the appeal, holding that the penalty imposed under section 271(1)(c) for the assessment year 2003-04 was not sustainable as the addition to income lacked valid evidence of undisclosed income, leading to the deletion of the penalty. The Tribunal emphasized that the addition made by the Assessing Officer was not supported by concrete evidence and did not establish concealment of income or furnishing inaccurate particulars of income. en-us Tue, 30 Apr 2019 00:00:00 +0530 Sat, 07 Aug 2021 08:49:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296786 The Tribunal allowed the appeal, holding that the penalty imposed under section 271(1)(c) for the assessment year 2003-04 was not sustainable as the addition to income lacked valid evidence of undisclosed income, leading to the deletion of the penalty. The Tribunal emphasized that the addition made by the Assessing Officer was not supported by concrete evidence and did not establish concealment of income or furnishing inaccurate particulars of income. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296786