https://www.taxtmi.com/caselaws?id=68658 The Tribunal allowed the appeal, canceling the penalty imposed under s. 271(1)(c) of the IT Act, 1961. The Tribunal emphasized that penalty for concealment or furnishing inaccurate particulars requires proof and cannot be solely based on estimated additions. It highlighted discrepancies in the survey statement and lack of Departmental authorization, leading to the conclusion that in this case, no penalty could be levied. The order set aside the CIT(A) decision and revoked the penalty. en-us Tue, 05 Jun 2007 00:00:00 +0530 Thu, 31 Mar 2011 16:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68658 The Tribunal allowed the appeal, canceling the penalty imposed under s. 271(1)(c) of the IT Act, 1961. The Tribunal emphasized that penalty for concealment or furnishing inaccurate particulars requires proof and cannot be solely based on estimated additions. It highlighted discrepancies in the survey statement and lack of Departmental authorization, leading to the conclusion that in this case, no penalty could be levied. The order set aside the CIT(A) decision and revoked the penalty. Case-Laws Income Tax Tue, 05 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68658