https://www.taxtmi.com/caselaws?id=180634 The appeal against the penalty under section 271(1)(c) of the IT Act for the assessment year 2005-06 was allowed. The penalty was deemed not leviable as the addition was based on estimation without evidence of concealment. The orders of the lower authorities were set aside, and the penalty was cancelled. en-us Fri, 05 Jul 2013 00:00:00 +0530 Wed, 30 Mar 2016 18:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180634 The appeal against the penalty under section 271(1)(c) of the IT Act for the assessment year 2005-06 was allowed. The penalty was deemed not leviable as the addition was based on estimation without evidence of concealment. The orders of the lower authorities were set aside, and the penalty was cancelled. Case-Laws Income Tax Fri, 05 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180634