{"id":19481,"date":"2018-10-05T11:28:54","date_gmt":"2018-10-05T05:58:54","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=19481"},"modified":"2018-10-05T11:28:54","modified_gmt":"2018-10-05T05:58:54","slug":"farrukhabad-investment-india-ltd-vs-dcit-itat-agra-third-member-s-2711c-penalty-law-explained-on-whether-penalty-can-be-imposed-where-i-income-is-added-or-disallowance-is-made-on-estimate-basi","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/farrukhabad-investment-india-ltd-vs-dcit-itat-agra-third-member-s-2711c-penalty-law-explained-on-whether-penalty-can-be-imposed-where-i-income-is-added-or-disallowance-is-made-on-estimate-basi\/","title":{"rendered":"Farrukhabad Investment (India) Ltd vs. DCIT (ITAT Agra Third Member)"},"content":{"rendered":"<p>What follows from the above discussion is that where income is estimated or disallowance of expenses i made on estimate basis, there can be no penalty. The raison d&#8217;etre for non-imposition of penalty in both the situations is that there is a lack of precision as to concealment of income or furnishing of inaccurate particulars of income. It is only an estimation shorn of any certainty or accuracy. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where income is estimated or disallowance of expenses i made on estimate basis, there can be no penalty. The raison d&#8217;etre for non-imposition of penalty in both the situations is that there is a lack of precision as to concealment of income or furnishing of inaccurate particulars of income. It is only an estimation shorn of any certainty or accuracy<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/farrukhabad-investment-india-ltd-vs-dcit-itat-agra-third-member-s-2711c-penalty-law-explained-on-whether-penalty-can-be-imposed-where-i-income-is-added-or-disallowance-is-made-on-estimate-basi\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4,5],"tags":[],"class_list":["post-19481","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-high-court","judges-bhavnesh-saini-jm","judges-pramod-kumar-am","judges-r-s-syal-am","section-2711c","counsel-anurag-sinha","court-itat-agra","court-third-member","catchwords-concelment-penalty","genre-domestic-tax"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/19481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=19481"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/19481\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=19481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=19481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=19481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}