https://www.taxtmi.com/caselaws?id=56861 The Tribunal reinstated the penalty imposed by the ITO, emphasizing the lack of credible explanations and evidence presented by the assessee to refute the allegations of concealment. The Tribunal found that the CIT (A) did not adequately consider the evidence and failed to provide sufficient reasoning to support the reduction in penalty. en-us Thu, 27 Aug 1987 00:00:00 +0530 Tue, 07 Dec 2010 11:15:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56861 The Tribunal reinstated the penalty imposed by the ITO, emphasizing the lack of credible explanations and evidence presented by the assessee to refute the allegations of concealment. The Tribunal found that the CIT (A) did not adequately consider the evidence and failed to provide sufficient reasoning to support the reduction in penalty. Case-Laws Income Tax Thu, 27 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56861