https://www.taxtmi.com/caselaws?id=242923 The ITAT dismissed the department's appeals, upholding the deletion of penalties under section 271(1)(c) of the I.T. Act. The penalties were initially imposed based on quantum additions and undisclosed income, which were subsequently deleted by the ITAT. The court emphasized that once the additions forming the basis for penalties were removed, the penalties themselves could not be sustained. The decision, in line with the Supreme Court precedent, concluded that the penalties were not justified post-deletion of the additions, affirming the Ld. CIT(A)'s decision. en-us Tue, 10 Dec 2013 00:00:00 +0530 Thu, 23 Jan 2014 06:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242923 The ITAT dismissed the department's appeals, upholding the deletion of penalties under section 271(1)(c) of the I.T. Act. The penalties were initially imposed based on quantum additions and undisclosed income, which were subsequently deleted by the ITAT. The court emphasized that once the additions forming the basis for penalties were removed, the penalties themselves could not be sustained. The decision, in line with the Supreme Court precedent, concluded that the penalties were not justified post-deletion of the additions, affirming the Ld. CIT(A)'s decision. Case-Laws Income Tax Tue, 10 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242923