https://www.taxtmi.com/caselaws?id=304959 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) for unexplained cash credit and interest expenditure disallowance. The penalty was deemed unwarranted due to the failure to substantiate the explanation for certain unsecured loans, as highlighted by the Tribunal's decision based on relevant case law. en-us Fri, 24 Jun 2011 00:00:00 +0530 Tue, 08 Nov 2022 13:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304959 The Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) for unexplained cash credit and interest expenditure disallowance. The penalty was deemed unwarranted due to the failure to substantiate the explanation for certain unsecured loans, as highlighted by the Tribunal's decision based on relevant case law. Case-Laws Income Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304959