https://www.taxtmi.com/caselaws?id=398746 The Tribunal allowed the appeals for all the assessment years (2005-06 to 2010-11) and deleted the penalties imposed under Section 271(1)(c). The penalties were based on estimated additions without specific findings of concealment or inaccurate particulars of income. The Tribunal emphasized that penalties cannot be levied on estimated additions without evidence of concealment, citing various case laws to support its decision. en-us Mon, 14 Sep 2020 00:00:00 +0530 Wed, 23 Sep 2020 10:41:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398746 The Tribunal allowed the appeals for all the assessment years (2005-06 to 2010-11) and deleted the penalties imposed under Section 271(1)(c). The penalties were based on estimated additions without specific findings of concealment or inaccurate particulars of income. The Tribunal emphasized that penalties cannot be levied on estimated additions without evidence of concealment, citing various case laws to support its decision. Case-Laws Income Tax Mon, 14 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398746