https://www.taxtmi.com/caselaws?id=441062 The Tribunal upheld the assessment and addition under section 69A of the Act but ruled in favor of the assessee in penalty proceedings under section 271(1)(c) of the Act. The penalty was deleted as relief granted based on peak credit theory showed no concealment of income or inaccurate particulars. The appeal was allowed, and the penalty was set aside. en-us Fri, 28 Jul 2023 00:00:00 +0530 Tue, 01 Aug 2023 09:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441062 The Tribunal upheld the assessment and addition under section 69A of the Act but ruled in favor of the assessee in penalty proceedings under section 271(1)(c) of the Act. The penalty was deleted as relief granted based on peak credit theory showed no concealment of income or inaccurate particulars. The appeal was allowed, and the penalty was set aside. Case-Laws Income Tax Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441062