2016 (6) TMI 1501

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..... t : RULE SERVED ORAL JUDGMENT (PER : HONOURABLE MR. JUSTICE KS JHAVERI) 1. By way of this Appeal, the Appellant has challenged the judgment and order dated 10.09.2008 of the Income Tax Appellate Tribunal, Ahmedabad Bench, Camp at Surat in I.T.A. No. 4291/Ahd.2007 for the Assessment Year : 2001-2002. 2. While admitting the matter on 12.10.2010, the following substantial question of law was fra .....

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..... The Tribunal has very rightly considered that both the additions are on a estimated basis. Therefore, just because estimates are made, penalty cannot be levied under Section 271(c)." 4. Considering the ratio laid down in the above decision and in the facts of the present case, we are of the view that the issue raised in this Appeal is squarely covered by the above decision and hence, the issue re .....

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