https://www.taxtmi.com/caselaws?id=212452 The Tribunal held that the penalty under Section 271(1)(c) was not justified for estimated disallowances but was warranted for unexplained credits. The Assessing Officer was directed to recalculate the penalty accordingly. As a result, the assessee's appeal was partially allowed. en-us Thu, 30 Jun 2011 00:00:00 +0530 Mon, 15 Jul 2013 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212452 The Tribunal held that the penalty under Section 271(1)(c) was not justified for estimated disallowances but was warranted for unexplained credits. The Assessing Officer was directed to recalculate the penalty accordingly. As a result, the assessee's appeal was partially allowed. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212452