https://www.taxtmi.com/caselaws?id=327878 The Delhi High Court upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals) [CIT(A)] in a case involving disallowed losses and additional income. The court ruled that once the CIT(A) modified the assessment order, the Assessing Officer could not proceed with penalty proceedings based on the original findings. The court dismissed the appeal, emphasizing the significance of the CIT(A)'s modifications in altering the basis for penalties and restricting the Assessing Officer's jurisdiction in such situations. en-us Fri, 13 May 2016 00:00:00 +0530 Sat, 21 May 2016 12:39:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327878 The Delhi High Court upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals) [CIT(A)] in a case involving disallowed losses and additional income. The court ruled that once the CIT(A) modified the assessment order, the Assessing Officer could not proceed with penalty proceedings based on the original findings. The court dismissed the appeal, emphasizing the significance of the CIT(A)'s modifications in altering the basis for penalties and restricting the Assessing Officer's jurisdiction in such situations. Case-Laws Income Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327878