https://www.taxtmi.com/caselaws?id=412286 The Tribunal upheld the deletion of the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2011-12. It emphasized that penalties cannot be imposed when additions are made on an estimation basis without contestation by the assessee. The Commissioner (Appeals) decision to delete the penalty was affirmed, as the Tribunal found that penalty imposition was not justified in this case involving alleged bogus purchases. en-us Wed, 24 Mar 2021 00:00:00 +0530 Wed, 15 Sep 2021 09:00:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412286 The Tribunal upheld the deletion of the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2011-12. It emphasized that penalties cannot be imposed when additions are made on an estimation basis without contestation by the assessee. The Commissioner (Appeals) decision to delete the penalty was affirmed, as the Tribunal found that penalty imposition was not justified in this case involving alleged bogus purchases. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412286