https://www.taxtmi.com/caselaws?id=58327 The Tribunal canceled the penalty under section 271(1)(c) of the Income-tax Act, as the explanations provided by the assessee for the additions to their income were disbelieved but not proven false, not falling under Explanation 1(A). The penalty was overturned, and the appeal was allowed. en-us Wed, 17 Nov 1993 00:00:00 +0530 Sat, 18 Dec 2010 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58327 The Tribunal canceled the penalty under section 271(1)(c) of the Income-tax Act, as the explanations provided by the assessee for the additions to their income were disbelieved but not proven false, not falling under Explanation 1(A). The penalty was overturned, and the appeal was allowed. Case-Laws Income Tax Wed, 17 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58327