https://www.taxtmi.com/caselaws?id=55246 The case involved a quantum appeal related to an assessment order under section 143(3), focusing on the addition of Rs. 50,000 as unexplained deposits, interest charged under sections 139 and 217, and penalties under sections 271(1)(a), 271(1)(c), and 273(1)(b). The court confirmed the addition of Rs. 50,000 as unexplained deposits, upheld the interest charges, partially canceled the penalty for concealment of income regarding diamonds but upheld it for bank deposits, upheld the penalty for late filing of return, and reduced the penalty for failing to furnish advance tax statement to the minimum rate of 10%. The appeals were dismissed in part and allowed in part. en-us Tue, 24 May 1994 00:00:00 +0530 Mon, 01 Aug 2016 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55246 The case involved a quantum appeal related to an assessment order under section 143(3), focusing on the addition of Rs. 50,000 as unexplained deposits, interest charged under sections 139 and 217, and penalties under sections 271(1)(a), 271(1)(c), and 273(1)(b). The court confirmed the addition of Rs. 50,000 as unexplained deposits, upheld the interest charges, partially canceled the penalty for concealment of income regarding diamonds but upheld it for bank deposits, upheld the penalty for late filing of return, and reduced the penalty for failing to furnish advance tax statement to the minimum rate of 10%. The appeals were dismissed in part and allowed in part. Case-Laws Income Tax Tue, 24 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55246