https://www.taxtmi.com/caselaws?id=168823 The Tribunal canceled the penalty under section 271(1)(c) for the assessment year 2001-02, citing insufficient evidence for imposition based on defects in account books or estimation methods. The delay in filing the appeal for the assessment year 2004-05 was condoned due to the managing partner's health issues. Unexplained cash credits under section 68 were set aside for reassessment. Job work charges disallowance was upheld, while ad hoc disallowances of commission and trade discount expenses were overturned. Other grounds like late deposits and addition under section 14A were dismissed. Overall, the Tribunal allowed the appeal for AY 2001-02 and partly for AY 2004-05. en-us Fri, 03 Feb 2012 00:00:00 +0530 Mon, 14 Aug 2017 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168823 The Tribunal canceled the penalty under section 271(1)(c) for the assessment year 2001-02, citing insufficient evidence for imposition based on defects in account books or estimation methods. The delay in filing the appeal for the assessment year 2004-05 was condoned due to the managing partner's health issues. Unexplained cash credits under section 68 were set aside for reassessment. Job work charges disallowance was upheld, while ad hoc disallowances of commission and trade discount expenses were overturned. Other grounds like late deposits and addition under section 14A were dismissed. Overall, the Tribunal allowed the appeal for AY 2001-02 and partly for AY 2004-05. Case-Laws Income Tax Fri, 03 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168823