https://www.taxtmi.com/caselaws?id=248630 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) by the CIT(A) for the assessment year 2005-06. It emphasized the distinction between penalty and quantum proceedings, granting the assessee the liberty to introduce new contentions and evidence in penalty proceedings. The Tribunal directed the restoration of the issue to the CIT(A) for reevaluation, instructing a fresh consideration with the presentation of relevant evidence and a fair opportunity for the assessee to be heard. The decision was rendered on 30th May 2014. en-us Fri, 30 May 2014 00:00:00 +0530 Wed, 18 Jun 2014 22:12:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248630 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) by the CIT(A) for the assessment year 2005-06. It emphasized the distinction between penalty and quantum proceedings, granting the assessee the liberty to introduce new contentions and evidence in penalty proceedings. The Tribunal directed the restoration of the issue to the CIT(A) for reevaluation, instructing a fresh consideration with the presentation of relevant evidence and a fair opportunity for the assessee to be heard. The decision was rendered on 30th May 2014. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248630