https://www.taxtmi.com/caselaws?id=433906 The Tribunal ruled in favor of the assessee, holding that the penalty imposed under section 270A of the Income-tax Act, 1961, based on the addition made under section 43CA relying on the DVO's estimate, was not justified. The Tribunal interpreted the provisions of section 270A(6) to exclude penalties based on estimations if the accounts are accurate and complete, thereby ordering the deletion of the penalty amount. en-us Fri, 10 Feb 2023 00:00:00 +0530 Mon, 13 Feb 2023 09:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433906 The Tribunal ruled in favor of the assessee, holding that the penalty imposed under section 270A of the Income-tax Act, 1961, based on the addition made under section 43CA relying on the DVO's estimate, was not justified. The Tribunal interpreted the provisions of section 270A(6) to exclude penalties based on estimations if the accounts are accurate and complete, thereby ordering the deletion of the penalty amount. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433906