https://www.taxtmi.com/caselaws?id=61510 The appeal I.T.A. No. 54/Chandi of 1992 was withdrawn with no objection, leading to its dismissal. Regarding the penalty under section 271(1)(c) for unexplained investments, the Accountant Member directed the deletion of the penalty as there was no evidence of concealment. The Judicial Member, however, upheld the penalty for the unexplained investment of Rs. 14,600. The matter was referred to a Third Member, who concluded that the penalty for the unexplained investment should be deleted, in line with the Accountant Member's view. The case was remanded for further proceedings based on the majority opinion. en-us Fri, 29 May 1998 00:00:00 +0530 Thu, 20 Jun 2013 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61510 The appeal I.T.A. No. 54/Chandi of 1992 was withdrawn with no objection, leading to its dismissal. Regarding the penalty under section 271(1)(c) for unexplained investments, the Accountant Member directed the deletion of the penalty as there was no evidence of concealment. The Judicial Member, however, upheld the penalty for the unexplained investment of Rs. 14,600. The matter was referred to a Third Member, who concluded that the penalty for the unexplained investment should be deleted, in line with the Accountant Member's view. The case was remanded for further proceedings based on the majority opinion. Case-Laws Income Tax Fri, 29 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61510