https://www.taxtmi.com/caselaws?id=177688 The Tribunal upheld the deletion of penalties under Section 271(1)(c) of the Income Tax Act, noting that the additional income declared was not due to concealment. However, it referred the issue of the validity of assessment proceedings under Section 153A back to the CIT(A) due to the absence of a search warrant in the assessee's name. The Tribunal allowed the Revenue's appeals for statistical purposes, emphasizing the need to determine the validity of the assessment proceedings before addressing the penalty issue. en-us Tue, 09 Dec 2014 00:00:00 +0530 Fri, 15 Jan 2016 11:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177688 The Tribunal upheld the deletion of penalties under Section 271(1)(c) of the Income Tax Act, noting that the additional income declared was not due to concealment. However, it referred the issue of the validity of assessment proceedings under Section 153A back to the CIT(A) due to the absence of a search warrant in the assessee's name. The Tribunal allowed the Revenue's appeals for statistical purposes, emphasizing the need to determine the validity of the assessment proceedings before addressing the penalty issue. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177688