https://www.taxtmi.com/caselaws?id=281582 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 13,88,830/- imposed under Section 271(1)(c) of the Income Tax Act. It was held that penalty cannot be imposed solely based on estimated additions without conclusive proof of concealment. The Tribunal dismissed the department's appeal, confirming that penalty provisions do not apply in cases of income estimation. The order was pronounced on 04/03/2016. en-us Fri, 04 Mar 2016 00:00:00 +0530 Wed, 26 Jun 2019 06:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281582 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 13,88,830/- imposed under Section 271(1)(c) of the Income Tax Act. It was held that penalty cannot be imposed solely based on estimated additions without conclusive proof of concealment. The Tribunal dismissed the department's appeal, confirming that penalty provisions do not apply in cases of income estimation. The order was pronounced on 04/03/2016. Case-Laws Income Tax Fri, 04 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281582