https://www.taxtmi.com/caselaws?id=215706 The appeals against the deletion of penalty under section 271(1)(c) for AY 2004-05 and 2005-06 were rejected, and the deletion of the penalty was upheld. The High Court found that there was no basis for the penalty due to the outcome of the quantum proceedings. The Coordinate Bench accepted the assessee's appeal against disallowance, leading to the justification for deleting the penalty by the CIT (A). en-us Fri, 15 Jun 2012 00:00:00 +0530 Wed, 08 Aug 2012 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215706 The appeals against the deletion of penalty under section 271(1)(c) for AY 2004-05 and 2005-06 were rejected, and the deletion of the penalty was upheld. The High Court found that there was no basis for the penalty due to the outcome of the quantum proceedings. The Coordinate Bench accepted the assessee's appeal against disallowance, leading to the justification for deleting the penalty by the CIT (A). Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215706