Allowing the appeal of the revenue , the court held that , the fact that particular income were available from the books of account is not sufficient as the quantum of addition was up held by the High Court , levy of penalty was held to be justified . ( AY. 1992 -93)
CIT v. N. Jayaprakash. (2018) 400 ITR 99 / 163 DTR 350/ ( 2019) 307 CTR 627 (Ker) (HC)
S. 271(1)(c) : Penalty – Concealment – Unaccounted sales and un explained cash credits –Quantum addition was up held by High Court -Levy of penalty was held to be justified . [ Explanation 1 ]