https://www.taxtmi.com/caselaws?id=438816 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee, allowing the appeal and directing the assessing officer to delete the penalty levied u/s 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty was unjustified as it was based on an addition made on an estimate basis without clear proof of concealment of income or furnishing inaccurate particulars. en-us Wed, 31 May 2023 00:00:00 +0530 Fri, 09 Jun 2023 08:56:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438816 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee, allowing the appeal and directing the assessing officer to delete the penalty levied u/s 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty was unjustified as it was based on an addition made on an estimate basis without clear proof of concealment of income or furnishing inaccurate particulars. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438816