https://www.taxtmi.com/caselaws?id=394087 The tribunal upheld the decision of the Learned Commissioner of Income Tax (Appeals) to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The tribunal found that the Assessing Officer had made an ad-hoc estimation of profit without conclusive proof of concealment or inaccurate particulars, in line with established legal precedent. The appeal by the revenue was dismissed on 13th March 2020. en-us Fri, 13 Mar 2020 00:00:00 +0530 Tue, 31 Mar 2020 17:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394087 The tribunal upheld the decision of the Learned Commissioner of Income Tax (Appeals) to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The tribunal found that the Assessing Officer had made an ad-hoc estimation of profit without conclusive proof of concealment or inaccurate particulars, in line with established legal precedent. The appeal by the revenue was dismissed on 13th March 2020. Case-Laws Income Tax Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394087