No penalty can be levied where income is estimated

1. CIT vs Whiteline Chemicals (Guj) ITA 496/2012 dtd 15-01-2013
2. CIT vs Vatika Cosntruction Pvt Ltd ITA 1246/2010 dtd 11-10-2012
3. CIT vs P Rojes (Mad) 5-2-2013 ITA 341/2010