https://www.taxtmi.com/caselaws?id=428046 The tribunal partly allowed the appeal by restricting the addition to 8% of credit entries in the bank account, granting relief to the assessee. It fully allowed the appeal on the penalty, directing deletion of the penalty levied under Section 271(1)(c), emphasizing the importance of considering both credit and debit entries in bank accounts and non-leviability of penalties on ad hoc additions. en-us Wed, 27 Jul 2022 00:00:00 +0530 Fri, 23 Sep 2022 08:23:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428046 The tribunal partly allowed the appeal by restricting the addition to 8% of credit entries in the bank account, granting relief to the assessee. It fully allowed the appeal on the penalty, directing deletion of the penalty levied under Section 271(1)(c), emphasizing the importance of considering both credit and debit entries in bank accounts and non-leviability of penalties on ad hoc additions. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428046