https://www.taxtmi.com/caselaws?id=408912 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized aligning penalty proceedings with specific offenses, highlighting that penalties cannot be imposed solely based on additions made on an estimate basis without concrete evidence of concealment or inaccurate particulars of income. en-us Tue, 15 Jun 2021 00:00:00 +0530 Thu, 24 Jun 2021 08:27:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408912 The Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized aligning penalty proceedings with specific offenses, highlighting that penalties cannot be imposed solely based on additions made on an estimate basis without concrete evidence of concealment or inaccurate particulars of income. Case-Laws Income Tax Tue, 15 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408912