https://www.taxtmi.com/caselaws?id=424564 The Tribunal ruled in favor of the appellants in appeals against penalty orders under Section 271(1)(c) for assessment years 2007-08 and 2014-15. The penalties imposed by the Assessing Officer based on estimated additions during assessment were overturned. Citing legal precedents, including Manish Dhirajlal Mehta Vs. ACIT and Vijay Proteins Ltd. Vs. CIT, the Tribunal held that penalties cannot be levied on estimated additions. Consequently, the penalties under Section 271(1)(c) for both assessment years were deleted. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 09:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424564 The Tribunal ruled in favor of the appellants in appeals against penalty orders under Section 271(1)(c) for assessment years 2007-08 and 2014-15. The penalties imposed by the Assessing Officer based on estimated additions during assessment were overturned. Citing legal precedents, including Manish Dhirajlal Mehta Vs. ACIT and Vijay Proteins Ltd. Vs. CIT, the Tribunal held that penalties cannot be levied on estimated additions. Consequently, the penalties under Section 271(1)(c) for both assessment years were deleted. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424564