https://www.taxtmi.com/caselaws?id=761041 Penalty under section 271(1)(c) could not be sustained merely because supporting vouchers were not furnished where the underlying transaction had been disclosed and there was no finding of deliberate concealment. The appellate reduction of the quantum addition on the basis of evidence further showed that the case was one of deficient substantiation, not concealment. The penalty was deleted. en-us Tue, 29 Oct 2024 00:00:00 +0530 Mon, 04 Nov 2024 08:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761041 Penalty under section 271(1)(c) could not be sustained merely because supporting vouchers were not furnished where the underlying transaction had been disclosed and there was no finding of deliberate concealment. The appellate reduction of the quantum addition on the basis of evidence further showed that the case was one of deficient substantiation, not concealment. The penalty was deleted. Case-Laws Income Tax Tue, 29 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761041