https://www.taxtmi.com/caselaws?id=186074 The Tribunal concluded that the penalty under section 271(1)(c) was not applicable as the income was estimated after rejecting the books of accounts without specific instances of inaccurate particulars or income concealment. The penalty of Rs. 1,74,594/- imposed by the AO and confirmed by the CIT(A) was canceled, and the appeal by the assessee was allowed. en-us Fri, 13 Jul 2012 00:00:00 +0530 Tue, 06 Sep 2016 18:46:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186074 The Tribunal concluded that the penalty under section 271(1)(c) was not applicable as the income was estimated after rejecting the books of accounts without specific instances of inaccurate particulars or income concealment. The penalty of Rs. 1,74,594/- imposed by the AO and confirmed by the CIT(A) was canceled, and the appeal by the assessee was allowed. Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186074