https://www.taxtmi.com/caselaws?id=29595 The High Court upheld the Tribunal's decision, ruling that penalties imposed under s. 271(1)(c) of the Income-tax Act were unwarranted. The Court found no deliberate misrepresentation by the assessee, attributing the discrepancy in construction estimates to the assessing officer's judgment. It was determined that the penalties were not justified as the case primarily involved estimation issues rather than intentional deception. The Court declined to address further legal questions, directing each party to bear their own costs, with both judges concurring with the decision. en-us Fri, 27 Nov 1981 00:00:00 +0530 Mon, 15 Mar 2010 10:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29595 The High Court upheld the Tribunal's decision, ruling that penalties imposed under s. 271(1)(c) of the Income-tax Act were unwarranted. The Court found no deliberate misrepresentation by the assessee, attributing the discrepancy in construction estimates to the assessing officer's judgment. It was determined that the penalties were not justified as the case primarily involved estimation issues rather than intentional deception. The Court declined to address further legal questions, directing each party to bear their own costs, with both judges concurring with the decision. Case-Laws Income Tax Fri, 27 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29595