https://www.taxtmi.com/caselaws?id=270922 The Tribunal remitted the penalty issue back to the Assessing Officer (AO) for re-examination of evidence submitted during penalty proceedings. The AO was directed to assess independently whether there was any concealment of income, emphasizing that penalty decisions should not solely rely on assessment findings. The appeal was allowed for statistical purposes, highlighting the need for a separate evaluation of penalty proceedings based on evidence presented. en-us Wed, 04 Nov 2015 00:00:00 +0530 Wed, 20 Jan 2016 05:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270922 The Tribunal remitted the penalty issue back to the Assessing Officer (AO) for re-examination of evidence submitted during penalty proceedings. The AO was directed to assess independently whether there was any concealment of income, emphasizing that penalty decisions should not solely rely on assessment findings. The appeal was allowed for statistical purposes, highlighting the need for a separate evaluation of penalty proceedings based on evidence presented. Case-Laws Income Tax Wed, 04 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270922