https://www.taxtmi.com/caselaws?id=438545 The Tribunal allowed the appeal, directing the deletion of the penalty levied under section 271(1)(c) of the Income Tax Act, 1961. The Assessing Officer's additions were based on estimation and voluntary disclosures by the assessee, leading to the conclusion that no penalty was warranted in this case. en-us Wed, 31 May 2023 00:00:00 +0530 Sat, 03 Jun 2023 08:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438545 The Tribunal allowed the appeal, directing the deletion of the penalty levied under section 271(1)(c) of the Income Tax Act, 1961. The Assessing Officer's additions were based on estimation and voluntary disclosures by the assessee, leading to the conclusion that no penalty was warranted in this case. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438545