https://www.taxtmi.com/caselaws?id=208326 The High Court upheld the Tribunal's decision, dismissing the tax case appeals and connected miscellaneous petitions. The court emphasized the necessity of evidence of suppression or inaccuracies to justify the imposition of penalties under section 271(1)(c) of the Income-tax Act, 1961, particularly in cases where assessments are based on estimates. The judgment highlighted the importance of findings on suppression or inaccuracies as a prerequisite for invoking penal provisions, citing relevant legal precedents to support the decision. en-us Mon, 30 Nov 2009 00:00:00 +0530 Sat, 07 Dec 2013 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208326 The High Court upheld the Tribunal's decision, dismissing the tax case appeals and connected miscellaneous petitions. The court emphasized the necessity of evidence of suppression or inaccuracies to justify the imposition of penalties under section 271(1)(c) of the Income-tax Act, 1961, particularly in cases where assessments are based on estimates. The judgment highlighted the importance of findings on suppression or inaccuracies as a prerequisite for invoking penal provisions, citing relevant legal precedents to support the decision. Case-Laws Income Tax Mon, 30 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208326