https://www.taxtmi.com/caselaws?id=408910 The Tribunal dismissed both Revenue's appeals challenging the deletion of penalties under section 271(1)(c) for A.Y. 2011-12 and A.Y. 2010-11. It emphasized the need for evidence to impose penalties under this section and reiterated that penalties are not justified when additions are estimated without proof of concealment or inaccurate income particulars. The Tribunal upheld the deletion of penalties for both years, citing judicial precedents where penalties were not imposed under similar circumstances, maintaining consistency in its approach. en-us Wed, 02 Jun 2021 00:00:00 +0530 Thu, 24 Jun 2021 08:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408910 The Tribunal dismissed both Revenue's appeals challenging the deletion of penalties under section 271(1)(c) for A.Y. 2011-12 and A.Y. 2010-11. It emphasized the need for evidence to impose penalties under this section and reiterated that penalties are not justified when additions are estimated without proof of concealment or inaccurate income particulars. The Tribunal upheld the deletion of penalties for both years, citing judicial precedents where penalties were not imposed under similar circumstances, maintaining consistency in its approach. Case-Laws Income Tax Wed, 02 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408910