https://www.taxtmi.com/caselaws?id=191479 The Tribunal allowed the Assessee's appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act for unaccounted job charges and bogus purchases. The Tribunal found that the additions made by the AO were based on estimates and not concrete evidence of concealment, therefore concluding that the requirements of section 271(1)(c) were not met. As a result, the penalty was deleted. en-us Fri, 04 May 2012 00:00:00 +0530 Wed, 05 Apr 2017 14:29:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191479 The Tribunal allowed the Assessee's appeal against the penalty imposed under section 271(1)(c) of the Income Tax Act for unaccounted job charges and bogus purchases. The Tribunal found that the additions made by the AO were based on estimates and not concrete evidence of concealment, therefore concluding that the requirements of section 271(1)(c) were not met. As a result, the penalty was deleted. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191479