https://www.taxtmi.com/caselaws?id=59263 The Tribunal partially allowed the appeal, reducing the penalty to the minimum imposable under section 273(a) alone, after considering the Tribunal's order in the quantum appeal. The Tribunal emphasized the assessee's obligation to estimate income honestly and reasonably under section 273(a) and found the wide disparity between estimated and actual income supported the penalty imposition. Previous cases cited were distinguished based on specific facts and circumstances. en-us Wed, 02 Jun 1982 00:00:00 +0530 Mon, 27 Dec 2010 15:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59263 The Tribunal partially allowed the appeal, reducing the penalty to the minimum imposable under section 273(a) alone, after considering the Tribunal's order in the quantum appeal. The Tribunal emphasized the assessee's obligation to estimate income honestly and reasonably under section 273(a) and found the wide disparity between estimated and actual income supported the penalty imposition. Previous cases cited were distinguished based on specific facts and circumstances. Case-Laws Income Tax Wed, 02 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59263