https://www.taxtmi.com/caselaws?id=382037 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) was unjustified as the additions were based on estimations without concrete evidence of inaccurate particulars or concealed income. The Tribunal found the penalty imposition unwarranted, noting the lack of reliable evidence to support the claim of furnishing inaccurate particulars of income. Consequently, the penalty was deleted in favor of the assessee, emphasizing the insufficiency of grounds for penalty under section 271(1)(c) of the Act. en-us Mon, 10 Jun 2019 00:00:00 +0530 Tue, 25 Jun 2019 07:43:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382037 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) was unjustified as the additions were based on estimations without concrete evidence of inaccurate particulars or concealed income. The Tribunal found the penalty imposition unwarranted, noting the lack of reliable evidence to support the claim of furnishing inaccurate particulars of income. Consequently, the penalty was deleted in favor of the assessee, emphasizing the insufficiency of grounds for penalty under section 271(1)(c) of the Act. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382037