https://www.taxtmi.com/caselaws?id=464435 ITAT DELHI - AT allowed the appeal and deleted the penalty under s.271(1)(c). The AO completed assessment u/s 143(3) with large estimated additions after rejecting certain receipts, and CIT(A) had sustained the penalty. On appeal the Tribunal partly upheld the quantum addition but found it to be an estimated, inherently subjective determination; relying on HC precedents it held penalty cannot be levied on such estimated additions and directed deletion of the penalty. en-us Fri, 07 Feb 2025 00:00:00 +0530 Wed, 29 Oct 2025 19:07:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464435 ITAT DELHI - AT allowed the appeal and deleted the penalty under s.271(1)(c). The AO completed assessment u/s 143(3) with large estimated additions after rejecting certain receipts, and CIT(A) had sustained the penalty. On appeal the Tribunal partly upheld the quantum addition but found it to be an estimated, inherently subjective determination; relying on HC precedents it held penalty cannot be levied on such estimated additions and directed deletion of the penalty. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464435