https://www.taxtmi.com/caselaws?id=757967 The Tribunal allowed the appeal of the assessee, setting aside the penalty imposed under Section 270A of the Income Tax Act for underreporting of income. It concluded that the disallowance was based on estimation due to missing vouchers, which were not deliberately withheld. The Tribunal found the explanation bona fide and directed the penalty to be deleted. en-us Fri, 30 Aug 2024 00:00:00 +0530 Thu, 05 Sep 2024 07:50:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757967 The Tribunal allowed the appeal of the assessee, setting aside the penalty imposed under Section 270A of the Income Tax Act for underreporting of income. It concluded that the disallowance was based on estimation due to missing vouchers, which were not deliberately withheld. The Tribunal found the explanation bona fide and directed the penalty to be deleted. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757967