https://www.taxtmi.com/caselaws?id=775999 Penalty under section 271(1)(c) was considered unsustainable where the underlying section 69 addition for unexplained investment was treated as debatable and the assessee had offered an explanation with supporting evidence during assessment. The text states that penalty does not follow automatically from the survival of a quantum addition; concealment of income or furnishing of inaccurate particulars must be established before penalty can be imposed. On that basis, the penalty was deleted in favour of the assessee. en-us Wed, 01 Jan 2025 00:00:00 +0530 Mon, 04 Aug 2025 08:28:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775999 Penalty under section 271(1)(c) was considered unsustainable where the underlying section 69 addition for unexplained investment was treated as debatable and the assessee had offered an explanation with supporting evidence during assessment. The text states that penalty does not follow automatically from the survival of a quantum addition; concealment of income or furnishing of inaccurate particulars must be established before penalty can be imposed. On that basis, the penalty was deleted in favour of the assessee. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775999