https://www.taxtmi.com/caselaws?id=412333 The Tribunal dismissed the revenue's appeal under Sec. 271(1)(c) of the Income Tax Act, 1961, citing that penalties cannot be imposed where income was estimated. The appeal was found not maintainable due to the tax effect falling below the threshold set in CBDT Circular No. 17/2019. The Tribunal emphasized the need for specific exceptions to justify penalties, highlighting the independence of quantum and penalty proceedings. en-us Tue, 06 Apr 2021 00:00:00 +0530 Thu, 16 Sep 2021 09:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412333 The Tribunal dismissed the revenue's appeal under Sec. 271(1)(c) of the Income Tax Act, 1961, citing that penalties cannot be imposed where income was estimated. The appeal was found not maintainable due to the tax effect falling below the threshold set in CBDT Circular No. 17/2019. The Tribunal emphasized the need for specific exceptions to justify penalties, highlighting the independence of quantum and penalty proceedings. Case-Laws Income Tax Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412333