https://www.taxtmi.com/caselaws?id=337031 The Tribunal allowed the appeal, setting aside the penalty imposed by the AO. The decision was based on the principle that penalties cannot be levied where additions are made on estimation basis. en-us Wed, 28 Dec 2016 00:00:00 +0530 Mon, 02 Jan 2017 10:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337031 The Tribunal allowed the appeal, setting aside the penalty imposed by the AO. The decision was based on the principle that penalties cannot be levied where additions are made on estimation basis. Case-Laws Income Tax Wed, 28 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337031