https://www.taxtmi.com/caselaws?id=68532 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under s. 271(1)(c) of the IT Act, 1961. The Tribunal found that as the issue regarding the addition forming the basis of the penalty was remanded back to the AO for reconsideration, the penalty could not be upheld. It was determined that fresh penalty proceedings could be initiated if necessary, leading to the dismissal of the Revenue's appeal. en-us Tue, 16 Sep 2003 00:00:00 +0530 Mon, 18 Jun 2012 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68532 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under s. 271(1)(c) of the IT Act, 1961. The Tribunal found that as the issue regarding the addition forming the basis of the penalty was remanded back to the AO for reconsideration, the penalty could not be upheld. It was determined that fresh penalty proceedings could be initiated if necessary, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 16 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68532