https://www.taxtmi.com/caselaws?id=786904 Penalty for concealment or furnishing inaccurate particulars is not leviable where income additions rest purely on estimated non-genuine purchases and lack concrete evidence of deliberate concealment. Estimated additions initially made by the Assessing Officer and reduced by the Tribunal did not establish the factual basis required to sustain penalty under section 271(1)(c). The penalty was therefore deleted and the appeals were allowed in favour of the assessee. en-us Thu, 19 Feb 2026 00:00:00 +0530 Sat, 21 Feb 2026 09:29:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786904 Penalty for concealment or furnishing inaccurate particulars is not leviable where income additions rest purely on estimated non-genuine purchases and lack concrete evidence of deliberate concealment. Estimated additions initially made by the Assessing Officer and reduced by the Tribunal did not establish the factual basis required to sustain penalty under section 271(1)(c). The penalty was therefore deleted and the appeals were allowed in favour of the assessee. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786904