https://www.taxtmi.com/caselaws?id=427630 The Tribunal allowed the appeal of the assessee, deleting the penalty imposed under section 271(1)(c) by the Assessing Officer. The Tribunal held that penalties cannot be imposed on additions made on an estimation basis. The CIT(A) had already reduced the estimated disallowance, and the Tribunal followed the precedent to delete the penalty, providing relief to the assessee. en-us Thu, 25 Aug 2022 00:00:00 +0530 Tue, 13 Sep 2022 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427630 The Tribunal allowed the appeal of the assessee, deleting the penalty imposed under section 271(1)(c) by the Assessing Officer. The Tribunal held that penalties cannot be imposed on additions made on an estimation basis. The CIT(A) had already reduced the estimated disallowance, and the Tribunal followed the precedent to delete the penalty, providing relief to the assessee. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427630