https://www.taxtmi.com/caselaws?id=67987 The Tribunal quashed the penalty imposed under section 271(1)(c) amounting to Rs. 24,484, finding it unjustified as the legal heir filed the return to the best of his ability without intent to conceal information. The Tribunal emphasized the lack of background knowledge of the deceased's business by the legal heir and the estimation basis of the return. It was noted that the penalty was solely based on estimated additions without establishing concealment intent. The penalty order was canceled as it did not meet the prerequisites under section 271(1)(c), leading to the appeal being allowed in part. en-us Wed, 18 Nov 1987 00:00:00 +0530 Wed, 16 Mar 2011 12:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67987 The Tribunal quashed the penalty imposed under section 271(1)(c) amounting to Rs. 24,484, finding it unjustified as the legal heir filed the return to the best of his ability without intent to conceal information. The Tribunal emphasized the lack of background knowledge of the deceased's business by the legal heir and the estimation basis of the return. It was noted that the penalty was solely based on estimated additions without establishing concealment intent. The penalty order was canceled as it did not meet the prerequisites under section 271(1)(c), leading to the appeal being allowed in part. Case-Laws Income Tax Wed, 18 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67987