https://www.taxtmi.com/caselaws?id=261443 The Tribunal held that the penalty under section 271(1)(c) amounting to Rs. 3,78,274 was not justified in the case. It emphasized the need to consider penalty proceedings independently from assessment proceedings and took into account the Assessee's explanation for the unavailability of certain documents. The Tribunal reversed the lower authorities' findings and directed the deletion of the penalty, allowing the Assessee's appeal. en-us Fri, 20 Mar 2015 00:00:00 +0530 Mon, 13 Jul 2015 06:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261443 The Tribunal held that the penalty under section 271(1)(c) amounting to Rs. 3,78,274 was not justified in the case. It emphasized the need to consider penalty proceedings independently from assessment proceedings and took into account the Assessee's explanation for the unavailability of certain documents. The Tribunal reversed the lower authorities' findings and directed the deletion of the penalty, allowing the Assessee's appeal. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261443