https://www.taxtmi.com/caselaws?id=417820 The Revenue's appeal against the deletion of an addition on account of income suppression and disallowance under Section 43-B was dismissed. The assessee's appeal against the penalty under Section 271(1)(c) was allowed, leading to the deletion of the penalty. The court found that the assessee had not concealed income and had a valid explanation for not adding back the liabilities, resulting in the penalty deletion. en-us Mon, 31 Jan 2022 00:00:00 +0530 Wed, 02 Feb 2022 08:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417820 The Revenue's appeal against the deletion of an addition on account of income suppression and disallowance under Section 43-B was dismissed. The assessee's appeal against the penalty under Section 271(1)(c) was allowed, leading to the deletion of the penalty. The court found that the assessee had not concealed income and had a valid explanation for not adding back the liabilities, resulting in the penalty deletion. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417820