https://www.taxtmi.com/highlights?id=57528 Levy of penalty u/s.271(1)(c) - estimation of disallowance at 50% of commission and improvement expenditure - in this case, the additions were made on the basis of estimation and as discussed in the cases referred above, the penalty cannot be levied on the basis of estimated additions and thus, it is not a fit case for levying penalty. - AT en-us Thu, 08 Apr 2021 09:42:53 +0530 Thu, 08 Apr 2021 09:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57528 Levy of penalty u/s.271(1)(c) - estimation of disallowance at 50% of commission and improvement expenditure - in this case, the additions were made on the basis of estimation and as discussed in the cases referred above, the penalty cannot be levied on the basis of estimated additions and thus, it is not a fit case for levying penalty. - AT Highlights Income Tax Thu, 08 Apr 2021 09:42:53 +0530 https://www.taxtmi.com/highlights?id=57528