https://www.taxtmi.com/caselaws?id=789766 Penalty for concealment cannot be sustained where the surviving quantum addition for bogus purchases is confined to an estimated percentage and is not supported by concrete evidence of concealment or inaccurate particulars. The authorities applied the settled principle that an estimated addition, by itself, does not justify penalty under section 271(1)(c) of the Income-tax Act, 1961. On that basis, the penalty was deleted and the assessee succeeded, while the Revenue's challenge failed. en-us Fri, 10 Apr 2026 00:00:00 +0530 Tue, 14 Apr 2026 08:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789766 Penalty for concealment cannot be sustained where the surviving quantum addition for bogus purchases is confined to an estimated percentage and is not supported by concrete evidence of concealment or inaccurate particulars. The authorities applied the settled principle that an estimated addition, by itself, does not justify penalty under section 271(1)(c) of the Income-tax Act, 1961. On that basis, the penalty was deleted and the assessee succeeded, while the Revenue's challenge failed. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789766