Agreed estimated additions do not call for levy of penalty

S. Manoharan Vs DCIT (ITAT Chennai) From the factual matrix, it could be seen that the loose sheet which has led to the addition in the hands of the assessee pertain to period from 07.04.2016 to 14.04.2019 only and there is no document evidencing receipt of rental payment by the assessee for this year. There is no finding by Ld. AO that the amount was actually received by the assessee from any party. These are merely agreed estimated additions. Accordingly, no case of concealment or furnishing of inaccurate particulars of income could be made out against the assessee. We are of the considered ...