https://www.taxtmi.com/caselaws?id=768629 The ITAT Surat upheld the CIT(A)'s decision to delete penalty under Section 271(1)(c) where additions were made by the AO under Section 68 on an estimated basis. The tribunal held that penalty cannot be imposed when income is determined through estimation, as established by various court precedents. Additionally, regarding bogus purchases under Section 69A, the CIT(A) consistently restricted additions to 5% of purchases, following previous orders and ITAT decisions for similar cases in other assessment years. en-us Tue, 08 Apr 2025 00:00:00 +0530 Thu, 10 Apr 2025 08:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768629 The ITAT Surat upheld the CIT(A)'s decision to delete penalty under Section 271(1)(c) where additions were made by the AO under Section 68 on an estimated basis. The tribunal held that penalty cannot be imposed when income is determined through estimation, as established by various court precedents. Additionally, regarding bogus purchases under Section 69A, the CIT(A) consistently restricted additions to 5% of purchases, following previous orders and ITAT decisions for similar cases in other assessment years. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768629