https://www.taxtmi.com/caselaws?id=469111 Penalty for concealment or furnishing inaccurate particulars was held unsustainable where the addition arose only from a difference between an estimated gross profit disclosed during survey and the gross profit returned on the basis of accounts. The reported figures were filed after examination of the books, and the survey disclosure was only an estimate. On those facts, the mismatch by itself did not establish concealment of income or inaccurate particulars, so section 271(1)(c) penalty was deleted in favour of the assessee. en-us Fri, 28 Mar 2025 00:00:00 +0530 Tue, 02 Jun 2026 21:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469111 Penalty for concealment or furnishing inaccurate particulars was held unsustainable where the addition arose only from a difference between an estimated gross profit disclosed during survey and the gross profit returned on the basis of accounts. The reported figures were filed after examination of the books, and the survey disclosure was only an estimate. On those facts, the mismatch by itself did not establish concealment of income or inaccurate particulars, so section 271(1)(c) penalty was deleted in favour of the assessee. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469111