https://www.taxtmi.com/caselaws?id=241442 The case involved appeals by the Revenue regarding the deletion of penalty orders linked to unaccounted production found during a search action. The CIT(A) deleted the penalties citing lack of concrete evidence on suppressed sales and emphasizing the need for stronger proof for penalty imposition on estimated income. The ITAT upheld penalties corresponding to specific sales discovered during the search, directing the Assessing Officer to impose penalties accordingly. en-us Thu, 28 Feb 2013 00:00:00 +0530 Tue, 24 Dec 2013 06:18:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241442 The case involved appeals by the Revenue regarding the deletion of penalty orders linked to unaccounted production found during a search action. The CIT(A) deleted the penalties citing lack of concrete evidence on suppressed sales and emphasizing the need for stronger proof for penalty imposition on estimated income. The ITAT upheld penalties corresponding to specific sales discovered during the search, directing the Assessing Officer to impose penalties accordingly. Case-Laws Income Tax Thu, 28 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241442