https://www.taxtmi.com/caselaws?id=472034 Penalty for concealment of income or furnishing inaccurate particulars cannot be sustained solely on an estimated profit addition from alleged non-genuine purchases without material independently establishing concealment or inaccurate particulars. Proceedings initiated and levied under the concealment limb do not involve a charge mismatch merely because cancellation was sought on that basis. Deletion of penalty remains justified where the addition represents only an estimated profit element and does not establish culpable conduct. Penalty proceedings linked to organised tax-evasion activity fall within the CBDT circular exception permitting Revenue appeals irrespective of the prescribed monetary limit. en-us Fri, 27 Jun 2025 00:00:00 +0530 Sun, 27 Sep 2026 15:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472034 Penalty for concealment of income or furnishing inaccurate particulars cannot be sustained solely on an estimated profit addition from alleged non-genuine purchases without material independently establishing concealment or inaccurate particulars. Proceedings initiated and levied under the concealment limb do not involve a charge mismatch merely because cancellation was sought on that basis. Deletion of penalty remains justified where the addition represents only an estimated profit element and does not establish culpable conduct. Penalty proceedings linked to organised tax-evasion activity fall within the CBDT circular exception permitting Revenue appeals irrespective of the prescribed monetary limit. Case-Laws Income Tax Fri, 27 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472034