https://www.taxtmi.com/caselaws?id=249353 The Tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271(1)(c) for the assessment year 1998-1999. The disallowance of wages was based on estimates and not on admitted bogus payments. The Tribunal found that there was no evidence to prove the assessee made entries of bogus payments, and the department failed to establish such practices. As the disallowance lacked documentary evidence of admitted bogus payments, the penalty was deemed unjustified and was consequently canceled. en-us Fri, 04 Jul 2014 00:00:00 +0530 Fri, 11 Jul 2014 09:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249353 The Tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271(1)(c) for the assessment year 1998-1999. The disallowance of wages was based on estimates and not on admitted bogus payments. The Tribunal found that there was no evidence to prove the assessee made entries of bogus payments, and the department failed to establish such practices. As the disallowance lacked documentary evidence of admitted bogus payments, the penalty was deemed unjustified and was consequently canceled. Case-Laws Income Tax Fri, 04 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249353