https://www.taxtmi.com/caselaws?id=438807 The tribunal allowed the appeal of the assessee, setting aside the penalty imposed under u/s 271(1)(c) of the Income Tax Act. The tribunal ruled that penalties cannot be levied based on estimated income additions, deleting the penalty and emphasizing that penalties should not be imposed when income is assessed on an estimate basis. The delay in filing the appeal was condoned due to the appellant's health challenges and restrictions caused by the COVID-19 pandemic. en-us Thu, 11 May 2023 00:00:00 +0530 Thu, 08 Jun 2023 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438807 The tribunal allowed the appeal of the assessee, setting aside the penalty imposed under u/s 271(1)(c) of the Income Tax Act. The tribunal ruled that penalties cannot be levied based on estimated income additions, deleting the penalty and emphasizing that penalties should not be imposed when income is assessed on an estimate basis. The delay in filing the appeal was condoned due to the appellant's health challenges and restrictions caused by the COVID-19 pandemic. Case-Laws Income Tax Thu, 11 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438807