https://www.taxtmi.com/caselaws?id=362761 The Tribunal concluded that the penalty imposed under section 271(1)(c) of the Income Tax Act was unjustified as it was based on an estimated GP rate without specific findings of concealment or inaccurate particulars. The penalty was deleted, and the appeal of the assessee was allowed. en-us Fri, 29 Jun 2018 00:00:00 +0530 Tue, 03 Jul 2018 07:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362761 The Tribunal concluded that the penalty imposed under section 271(1)(c) of the Income Tax Act was unjustified as it was based on an estimated GP rate without specific findings of concealment or inaccurate particulars. The penalty was deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362761