https://www.taxtmi.com/caselaws?id=301489 The Tribunal found that the penalty under section 271(1)(c) of the Act was not applicable in this case as the additions were based on estimations. Therefore, the Tribunal allowed the appeal of the assessee, concluding that it was not a fit case for the levy of penalty. en-us Fri, 17 Mar 2017 00:00:00 +0530 Wed, 06 Apr 2022 22:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301489 The Tribunal found that the penalty under section 271(1)(c) of the Act was not applicable in this case as the additions were based on estimations. Therefore, the Tribunal allowed the appeal of the assessee, concluding that it was not a fit case for the levy of penalty. Case-Laws Income Tax Fri, 17 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301489