https://www.taxtmi.com/caselaws?id=218142 The Tribunal ruled in favor of the appellant, holding that penalties under section 271(1)(c) should not apply when income is assessed on an estimated basis without concrete evidence of malpractice. The Tribunal emphasized the importance of substantiating claims to avoid penalties for inaccurate particulars of income, ultimately deleting the penalty levied by the Assessing Officer. en-us Fri, 12 Oct 2012 00:00:00 +0530 Wed, 31 Oct 2012 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218142 The Tribunal ruled in favor of the appellant, holding that penalties under section 271(1)(c) should not apply when income is assessed on an estimated basis without concrete evidence of malpractice. The Tribunal emphasized the importance of substantiating claims to avoid penalties for inaccurate particulars of income, ultimately deleting the penalty levied by the Assessing Officer. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218142