https://www.taxtmi.com/caselaws?id=377242 The Appellate Tribunal ITAT MUMBAI ruled in favor of the assessee in contesting the penalty imposed under section 271(1)(c) for AY 2010-11. The Tribunal found that the penalty was unjustified as it was solely based on estimated disallowances, which were substantially accepted upon further appeal. As there was no evidence of inaccurate particulars or concealment of income, the Tribunal decided to delete the penalty, overturning the decision of the lower authorities. The appeal was allowed in favor of the assessee, with the order pronounced on 22nd March 2019. en-us Fri, 22 Mar 2019 00:00:00 +0530 Tue, 26 Mar 2019 06:40:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377242 The Appellate Tribunal ITAT MUMBAI ruled in favor of the assessee in contesting the penalty imposed under section 271(1)(c) for AY 2010-11. The Tribunal found that the penalty was unjustified as it was solely based on estimated disallowances, which were substantially accepted upon further appeal. As there was no evidence of inaccurate particulars or concealment of income, the Tribunal decided to delete the penalty, overturning the decision of the lower authorities. The appeal was allowed in favor of the assessee, with the order pronounced on 22nd March 2019. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377242