https://www.taxtmi.com/caselaws?id=444151 The Tribunal upheld the CIT(A)'s decision to delete the disallowance on unaccounted sale of teak trees and income from other sources. The validity of the assessment order and related penalties was confirmed, with the penalty under Section 271(1)(c) of the Income-tax Act, 1961, being deemed unsustainable due to lack of concealment of income particulars. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. en-us Fri, 06 Oct 2023 00:00:00 +0530 Tue, 10 Oct 2023 08:30:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444151 The Tribunal upheld the CIT(A)'s decision to delete the disallowance on unaccounted sale of teak trees and income from other sources. The validity of the assessment order and related penalties was confirmed, with the penalty under Section 271(1)(c) of the Income-tax Act, 1961, being deemed unsustainable due to lack of concealment of income particulars. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444151