1997 (8) TMI 103 - AT - Income Tax

Summary

The appeal was against a penalty of Rs. 8,150 under s. 271(1)(c) for asst. yr. 1988-89. The AO levied the penalty for unexplained credits and cash credits, but the tribunal found that the additions did not represent concealment of income. The penalty was cancelled, and the appeal was allowed. (Case: 1997 (8) TMI 103 - ITAT DELHI-A)