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2018 (2) TMI 1590 - AT - Income TaxPenalty on the disallowance of expenditure on estimate basis- Held that:- Respectfully following the judgment of the Hon’ble Jurisdictional High Court in Commissioner of Income Tax vs. Nokia India Pvt. Ltd. (2012 (7) TMI 35 - Delhi High Court) wherein held that the penalty on estimation basis cannot be sustained. Thus direct the assessing officer to delete this penalty. Penalty on disallowance in respect of made on account of foreign travel - assessee submitted that the supporting evidences were destroyed in fire he submitted that the travel by the Directors of the Company abroad was for the business purpose - Held that:- The factum of the destruction of evidence in fire is not rebutted by the revenue by placing any contrary material on record. We, therefore, under the facts of the present case hold that the claim of the assessee was bona fide and direct the assessing officer to delete the penalty. - Assessee appeal allowed.
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