https://www.taxtmi.com/caselaws?id=444217 The Tribunal allowed the appeal, finding that the penalty imposed under section 271(1)(c) for the assessment year 2010-11 was not justified as it was based on estimated additions. The Tribunal held that penalties cannot be levied on estimated additions, citing legal precedents. Consequently, the penalty was deleted, and the assessee's appeal was successful. en-us Fri, 19 May 2023 00:00:00 +0530 Tue, 10 Oct 2023 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444217 The Tribunal allowed the appeal, finding that the penalty imposed under section 271(1)(c) for the assessment year 2010-11 was not justified as it was based on estimated additions. The Tribunal held that penalties cannot be levied on estimated additions, citing legal precedents. Consequently, the penalty was deleted, and the assessee's appeal was successful. Case-Laws Income Tax Fri, 19 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444217