No quantum Section 68 addition in case concealment penalty was deleted

Basir Ahmed Sisodiya Vs ITO (Supreme Court)

Conclusion: Even though assessee failed to prove the genuineness of the purchases during the assessment proceedings, he filed affidavits and statements of the dealers in penalty proceedings and appellate authority had not only accepted the explanation offered by assessee but also recorded a clear finding of fact that there was no concealment of income or furnishing of any inaccurate particulars of income by assessee thus the quantum addition under section 68 would also have to be deleted.

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