https://www.taxtmi.com/caselaws?id=394617 The Tribunal ruled in favor of the assessee, directing the deletion of the penalty levied under section 271(1)(c) for alleged concealment of income. The penalty was deemed invalid as it was imposed without specifying the limb and based on estimated additions, which the Tribunal emphasized should not attract penalties. The appeal was allowed, and the penalty was set aside. en-us Wed, 05 Feb 2020 00:00:00 +0530 Fri, 17 Apr 2020 19:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394617 The Tribunal ruled in favor of the assessee, directing the deletion of the penalty levied under section 271(1)(c) for alleged concealment of income. The penalty was deemed invalid as it was imposed without specifying the limb and based on estimated additions, which the Tribunal emphasized should not attract penalties. The appeal was allowed, and the penalty was set aside. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394617