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2019 (10) TMI 243 - AT - Income TaxPenalty u/s 271(1)(c) - unexplained cash credit - HELD THAT:- Matter was first called for hearing on 02.08.2012 by the Tribunal and thereafter was listed for hearing numerous times till today. The assessee has taken adjournment on one pretext or the other which reflects indolent attitude of the assessee. The matter concerns AY 1994-95 and the appeal was filed in the Tribunal in 2012 more than six years have lapsed before the Tribunal. We also see that the records before the Tribunal are only partly complete. It is also noticed that the assessee has dodged the notices in the assessment proceedings as well, which impeded requisite inquiry. In view of the indifferent behavior, we proceed to dispose of the appeal on the basis of submissions made by the assessee before the CIT(A). Nothing substantive to rebut the allegation of cash deposits of ₹ 1,90,000/- in aggregate as an explained. The CIT(A) has also observed that assessee has failed to explain the source of cash deposit. Nothing has been brought on record before the Tribunal to rebut the aforesaid findings of the CIT(A). We thus see no reason to interfere with the order of the CIT(A) confirming the penalty of the aforesaid amount. - Decided against assessee.
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