Tribunal held that, disallowance of interest on estimate basis, there being no concealment of fact per se, imposition of penalty was not justified in the absence of any contumacious or dishonest conduct by the assessee. (AY.2012-13)
Electron Colour Chem Pvt. Ltd. v. ITO (2020) 83 ITR 73 (SN) (Ahd.)(Trib.)
S. 271(1)(c) : Penalty-Concealment-Disallowance of interest on estimate basis-Penalty not leviable. [S. 36(1)(iii)]