https://www.taxtmi.com/caselaws?id=268320 The Tribunal confirmed the orders of the CIT(A) deleting the penalties levied under Section 271(1)(c) for AY 2004-05 and AY 2005-06, dismissing the Revenue's appeals. It was held that penalties could not be imposed solely based on additions confirmed in quantum proceedings, as necessary conditions for penalty imposition were not met. The Tribunal emphasized the independence of assessment and penalty proceedings and noted that the High Court's admission of the appeal on substantial questions of law supported the deletion of the penalty, indicating a debatable issue involving a question of law. en-us Wed, 07 Oct 2015 00:00:00 +0530 Mon, 23 Nov 2015 21:10:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268320 The Tribunal confirmed the orders of the CIT(A) deleting the penalties levied under Section 271(1)(c) for AY 2004-05 and AY 2005-06, dismissing the Revenue's appeals. It was held that penalties could not be imposed solely based on additions confirmed in quantum proceedings, as necessary conditions for penalty imposition were not met. The Tribunal emphasized the independence of assessment and penalty proceedings and noted that the High Court's admission of the appeal on substantial questions of law supported the deletion of the penalty, indicating a debatable issue involving a question of law. Case-Laws Income Tax Wed, 07 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268320