Rajasthan High Court Cancels Penalty due to Deletion in Quantum Appeal

The High Court of Rajasthan canceled a penalty of Rs. 46,416 imposed under section 273(2)(a) as the addition was deleted in the quantum appeal, leading to no basis for the penalty. The Court ruled in favor of the assessee against the Department.

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The High Court of Rajasthan canceled a penalty imposed under section 273(2)(a) of Rs. 46,416. The Tribunal justified the cancellation as the entire addition had been deleted in the quantum appeal, leaving no basis for the penalty. The Court ruled in favor of the assessee and against the Department.

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