https://www.taxtmi.com/caselaws?id=786114 A penalty under the Incometax provision for concealment was contested on the basis that the impugned addition arose from estimated income attributed to alleged bogus purchases; the tribunal relied on prior decisions holding that penalty cannot be sustained where additions are estimationbased and upheld by authorities, and therefore found no justification for imposing the penalty. The consequence is that the assessee's challenge to the penalty succeeded and the penalty order was set aside, with the appeal grounds on this point allowed. en-us Mon, 02 Feb 2026 00:00:00 +0530 Tue, 03 Feb 2026 15:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786114 A penalty under the Incometax provision for concealment was contested on the basis that the impugned addition arose from estimated income attributed to alleged bogus purchases; the tribunal relied on prior decisions holding that penalty cannot be sustained where additions are estimationbased and upheld by authorities, and therefore found no justification for imposing the penalty. The consequence is that the assessee's challenge to the penalty succeeded and the penalty order was set aside, with the appeal grounds on this point allowed. Case-Laws Income Tax Mon, 02 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786114