https://www.taxtmi.com/caselaws?id=775294 Penalty under section 271(1)(c) was considered in the context of an income addition arising from re-estimation of profits. The text treats the dispute as one of subjective profit estimation rather than a case where an addition automatically justified concealment penalty, and applies the principle that every disallowance or quantum addition does not by itself establish furnishing of inaccurate particulars. On that basis, the penalty was deleted and the matter was decided in favour of the assessee. en-us Mon, 02 Jun 2025 00:00:00 +0530 Tue, 22 Jul 2025 10:52:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775294 Penalty under section 271(1)(c) was considered in the context of an income addition arising from re-estimation of profits. The text treats the dispute as one of subjective profit estimation rather than a case where an addition automatically justified concealment penalty, and applies the principle that every disallowance or quantum addition does not by itself establish furnishing of inaccurate particulars. On that basis, the penalty was deleted and the matter was decided in favour of the assessee. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775294