https://www.taxtmi.com/caselaws?id=58306 The Tribunal partly allowed the appeals by deleting penalties for certain cash credits and interest payments where the explanation was considered bona fide. However, penalties were restored for other cash credits and interest payments where the explanation was not deemed bona fide. The Tribunal emphasized that penalties cannot be levied solely based on assessment orders and must be supported by evidence of conscious concealment of income. en-us Fri, 26 Oct 1990 00:00:00 +0530 Sat, 18 Dec 2010 13:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58306 The Tribunal partly allowed the appeals by deleting penalties for certain cash credits and interest payments where the explanation was considered bona fide. However, penalties were restored for other cash credits and interest payments where the explanation was not deemed bona fide. The Tribunal emphasized that penalties cannot be levied solely based on assessment orders and must be supported by evidence of conscious concealment of income. Case-Laws Income Tax Fri, 26 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58306