https://www.taxtmi.com/caselaws?id=436923 The Tribunal upheld the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars of income related to an unexplained unsecured loan. Despite the assessee's challenges and adjournment requests, the Tribunal found the lack of evidence regarding the genuineness of the cash credit. Consequently, the penalty was upheld, and the appeal was dismissed for lack of merit. en-us Thu, 20 Apr 2023 00:00:00 +0530 Mon, 24 Apr 2023 09:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436923 The Tribunal upheld the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars of income related to an unexplained unsecured loan. Despite the assessee's challenges and adjournment requests, the Tribunal found the lack of evidence regarding the genuineness of the cash credit. Consequently, the penalty was upheld, and the appeal was dismissed for lack of merit. Case-Laws Income Tax Thu, 20 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436923