https://www.taxtmi.com/caselaws?id=240526 The Tribunal granted a stay on penalty proceedings initiated by the CIT(A) under Section 271(1)(c) of the Act against a company. The Tribunal considered the pending appeal on quantum proceedings before it and decided that the penalty proceedings should be stayed until the quantum appeal was resolved to prevent prejudice and avoid multiple proceedings. The Tribunal invoked its powers under Section 254(1) of the Act and legal precedents to direct the CIT(A) to keep the penalty proceedings in abeyance. The decision aimed to ensure a fair process and prevent harassment to the appellant. en-us Fri, 04 Jan 2013 00:00:00 +0530 Fri, 06 Dec 2013 07:46:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240526 The Tribunal granted a stay on penalty proceedings initiated by the CIT(A) under Section 271(1)(c) of the Act against a company. The Tribunal considered the pending appeal on quantum proceedings before it and decided that the penalty proceedings should be stayed until the quantum appeal was resolved to prevent prejudice and avoid multiple proceedings. The Tribunal invoked its powers under Section 254(1) of the Act and legal precedents to direct the CIT(A) to keep the penalty proceedings in abeyance. The decision aimed to ensure a fair process and prevent harassment to the appellant. Case-Laws Income Tax Fri, 04 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240526