{"id":3222,"date":"2018-12-11T10:43:19","date_gmt":"2018-12-11T10:43:19","guid":{"rendered":"http:\/\/itatonline.org\/digest\/eagle-theatres-v-acit-2018-65-itr-3-delhitrib\/"},"modified":"2018-12-11T10:43:19","modified_gmt":"2018-12-11T10:43:19","slug":"eagle-theatres-v-acit-2018-65-itr-3-delhitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/eagle-theatres-v-acit-2018-65-itr-3-delhitrib\/","title":{"rendered":"Eagle Theatres v. ACIT (2018) 65 ITR 3 (Delhi)(Trib.)"},"content":{"rendered":"<p>Assessee estimated the sales consideration of Rs 1 Lakh for building sold, which was estimated as Rs 32.70 Lakhs by AO, which got finally settled by means of appellate order at Rs 16.35 Lakhs. In such scenario, the Tribunal held that no penalty can be levied where the addition is based merely on estimates. (AY 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271(1)(c) : Penalty \u2013 Concealment \u2013Estimate of income-  sale of land along with building \u2013 agreement silent on consideration towards super structure \u2013 estimate made by assessee \u2013 such estimate increased by the AO and finally stood reduced to another amount by ITAT \u2013 Held, no penalty on such additions based on estimates.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":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":""},"categories":[1],"tags":[],"class_list":["post-3222","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-PY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3222"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3222\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}