https://www.taxtmi.com/caselaws?id=470682 Penalties cannot survive when the quantum additions forming their foundation have been deleted and no stay operates against that deletion. Penalty was therefore deleted in respect of those additions. Where alleged bogus purchases were retained only to the extent of an estimated profit element, the estimated nature of the addition did not, without more, support penalty; penalty on that addition was also deleted. The impugned penalties were consequently deleted because the underlying additions either no longer survived or rested solely on estimation. en-us Tue, 25 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470682 Penalties cannot survive when the quantum additions forming their foundation have been deleted and no stay operates against that deletion. Penalty was therefore deleted in respect of those additions. Where alleged bogus purchases were retained only to the extent of an estimated profit element, the estimated nature of the addition did not, without more, support penalty; penalty on that addition was also deleted. The impugned penalties were consequently deleted because the underlying additions either no longer survived or rested solely on estimation. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470682