https://www.taxtmi.com/caselaws?id=785552 The text addresses tax consequences where expenditure was estimated and certain payments were disallowed. It reasons that imposition of a penalty for income/expenditure determined by estimation is not sustainable, and consequently a penalty for disallowance for non-deduction of tax at source is not attracted; the disallowance therefore does not attract penalty. Additions framed against sundry creditors/debtors were treated as made under general assessment adjustments, but presence of the records negated concealment or inaccurate particulars, resulting in allowance of the assessee's challenge. en-us Thu, 15 Jan 2026 00:00:00 +0530 Tue, 27 Jan 2026 07:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785552 The text addresses tax consequences where expenditure was estimated and certain payments were disallowed. It reasons that imposition of a penalty for income/expenditure determined by estimation is not sustainable, and consequently a penalty for disallowance for non-deduction of tax at source is not attracted; the disallowance therefore does not attract penalty. Additions framed against sundry creditors/debtors were treated as made under general assessment adjustments, but presence of the records negated concealment or inaccurate particulars, resulting in allowance of the assessee's challenge. Case-Laws Income Tax Thu, 15 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785552