https://www.taxtmi.com/caselaws?id=56738 The Tribunal partly allowed the appeal, upholding the penalty under section 271(1)(c) of the IT Act, 1961 only in relation to the commission amount of Rs. 5,222, directing the ITO to recompute the penalty accordingly. The disallowance of the claimed commission and addition of Rs. 6,000 as income from other sources were confirmed. The Tribunal found the assessee failed to substantiate the commission payment but accepted a bona fide explanation for the credit in the mother-in-law's account. The penalty was adjusted based on these findings. en-us Fri, 03 Feb 1984 00:00:00 +0530 Mon, 06 Dec 2010 15:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56738 The Tribunal partly allowed the appeal, upholding the penalty under section 271(1)(c) of the IT Act, 1961 only in relation to the commission amount of Rs. 5,222, directing the ITO to recompute the penalty accordingly. The disallowance of the claimed commission and addition of Rs. 6,000 as income from other sources were confirmed. The Tribunal found the assessee failed to substantiate the commission payment but accepted a bona fide explanation for the credit in the mother-in-law's account. The penalty was adjusted based on these findings. Case-Laws Income Tax Fri, 03 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56738