ITAT's interpretation of "abatement" in block assessment may halt penalty proceedings, potentially benefiting the assessee unfairly.

ITAT's interpretation of "abatement" in block assessment may halt penalty proceedings, potentially benefiting the assessee unfairly. https://www.taxtmi.com/highlights?id=2652 Block Assessment - Interpretation of Word 'Abatement' - If the interpretation given by the ITAT is to be accepted, the entire proceedings of penalty will also abate giving an unreasonable advantage to the assessee, insptie of adverse findings inviting penalty..... - HC en-us Wed, 11 Jan 2012 15:24:36 +0530 Wed, 11 Jan 2012 15:24:36 +0530 TaxTMI RSS Generator ITAT's interpretation of "abatement" in block assessment may halt penalty proceedings, potentially benefiting the assessee unfairly. https://www.taxtmi.com/highlights?id=2652 Block Assessment - Interpretation of Word 'Abatement' - If the interpretation given by the ITAT is to be accepted, the entire proceedings of penalty will also abate giving an unreasonable advantage to the assessee, insptie of adverse findings inviting penalty..... - HC Highlights Income Tax Wed, 11 Jan 2012 15:24:36 +0530 https://www.taxtmi.com/highlights?id=2652