https://www.taxtmi.com/caselaws?id=151944 The Tribunal ruled in favor of the appellant, canceling the penalty imposed under section 271(1)(c) for the assessment year in question. The decision was based on the finding that the appellant's explanations were bona fide and that penalties should not be imposed on estimated additions without clear evidence of concealment or inaccurate particulars of income. en-us Wed, 17 Oct 2001 00:00:00 +0530 Thu, 20 Jun 2013 10:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151944 The Tribunal ruled in favor of the appellant, canceling the penalty imposed under section 271(1)(c) for the assessment year in question. The decision was based on the finding that the appellant's explanations were bona fide and that penalties should not be imposed on estimated additions without clear evidence of concealment or inaccurate particulars of income. Case-Laws Income Tax Wed, 17 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151944