https://www.taxtmi.com/caselaws?id=240986 The Tribunal dismissed the department's appeal, affirming the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for the assessment year 2005-06. The Tribunal held that penalties should not be imposed solely on estimated additions and emphasized that a bonafide explanation by the appellant cannot lead to penalty imposition unless found false or mala-fide. en-us Wed, 06 Feb 2013 00:00:00 +0530 Sun, 15 Dec 2013 10:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240986 The Tribunal dismissed the department's appeal, affirming the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for the assessment year 2005-06. The Tribunal held that penalties should not be imposed solely on estimated additions and emphasized that a bonafide explanation by the appellant cannot lead to penalty imposition unless found false or mala-fide. Case-Laws Income Tax Wed, 06 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240986