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2018 (1) TMI 1328 - ITAT JAIPUR
Penalty U/s 271(1)(c) - addition on estimated basis - Held that:- Addition sustained by the ld. CIT(A) itself was an estimated addition and the same has been sustained to the extent of ₹ 50,000/- only on ad hoc. The penalty is not an automatically leviable wherever addition is sustained. Further where the trading additions are made, which has been reduced and sustained on ad hoc basis, no penalty imposable on such estimated addition.- Decided in favour of assessee.