The Hon’ble Tribunal held that the penalty proceedings are separate from assessment proceedings and require independent evidence of intentional concealment or furnishing inaccurate particulars. The Hon’ble Tribunal deleted penalties related to additions and disallowances that were overturned in quantum proceedings. And emphasized that penalties cannot be imposed based on estimated additions or mere disallowances without concrete evidence of concealment or inaccurate particulars.  (AY. 2010-11,  2011-12)