https://www.taxtmi.com/highlights?id=61177 Penalty u/s. 271(1)(c) - unexplained loan creditors - as explained by the assessee that said difference is due to reconciliation of year end entries between assessee and his creditors. In our opinion, this cannot be considered as neither concealment nor filing of inaccurate particulars of income. Levying of penalty on this count is not justified therefore, the same is deleted. - AT en-us Wed, 29 Dec 2021 11:34:08 +0530 Wed, 29 Dec 2021 11:34:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61177 Penalty u/s. 271(1)(c) - unexplained loan creditors - as explained by the assessee that said difference is due to reconciliation of year end entries between assessee and his creditors. In our opinion, this cannot be considered as neither concealment nor filing of inaccurate particulars of income. Levying of penalty on this count is not justified therefore, the same is deleted. - AT Highlights Income Tax Wed, 29 Dec 2021 11:34:08 +0530 https://www.taxtmi.com/highlights?id=61177