https://www.taxtmi.com/caselaws?id=457198 Penalty under Section 271(1)(c) was held unsustainable where the underlying addition was made on an ad hoc and estimated basis. The reasoning was that concealment or furnishing of inaccurate particulars could not be precisely quantified when the disallowance itself rested on estimation, and the settled view applied by the Tribunal was that such a penalty does not survive on an estimated addition. The penalty was therefore directed to be deleted. en-us Mon, 29 Oct 2018 00:00:00 +0530 Wed, 11 Sep 2024 20:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457198 Penalty under Section 271(1)(c) was held unsustainable where the underlying addition was made on an ad hoc and estimated basis. The reasoning was that concealment or furnishing of inaccurate particulars could not be precisely quantified when the disallowance itself rested on estimation, and the settled view applied by the Tribunal was that such a penalty does not survive on an estimated addition. The penalty was therefore directed to be deleted. Case-Laws Income Tax Mon, 29 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457198