https://www.taxtmi.com/caselaws?id=237017 The Tribunal dismissed the revenue's appeal, ruling that the penalty under section 271(1)(c) of the Income Tax Act was unwarranted as the additions were estimated and did not demonstrate intentional concealment or inaccurate reporting. The firm's detailed submissions and evidence of transaction genuineness led to the deletion of the penalty, with the Tribunal emphasizing the lack of concrete evidence supporting deliberate wrongdoing. en-us Wed, 10 Jul 2013 00:00:00 +0530 Mon, 16 Sep 2013 09:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237017 The Tribunal dismissed the revenue's appeal, ruling that the penalty under section 271(1)(c) of the Income Tax Act was unwarranted as the additions were estimated and did not demonstrate intentional concealment or inaccurate reporting. The firm's detailed submissions and evidence of transaction genuineness led to the deletion of the penalty, with the Tribunal emphasizing the lack of concrete evidence supporting deliberate wrongdoing. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237017