https://www.taxtmi.com/caselaws?id=354160 The Revenue's challenge to the deletion of penalty by the ld. CIT(A) was dismissed as the Co-ordinate Bench removed the enhancement made in quantum proceedings. The AO's penalty under section 271(1)(c) was deemed unjustified by the ld. CIT(A) due to the additions being estimate-based without concrete facts. The judgment emphasized the necessity of proper initiation and completion of penalty proceedings, reliance on legal precedents, and the requirement of substantial evidence for imposing penalties under the Income Tax Act. en-us Thu, 18 Jan 2018 00:00:00 +0530 Fri, 19 Jan 2018 08:18:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354160 The Revenue's challenge to the deletion of penalty by the ld. CIT(A) was dismissed as the Co-ordinate Bench removed the enhancement made in quantum proceedings. The AO's penalty under section 271(1)(c) was deemed unjustified by the ld. CIT(A) due to the additions being estimate-based without concrete facts. The judgment emphasized the necessity of proper initiation and completion of penalty proceedings, reliance on legal precedents, and the requirement of substantial evidence for imposing penalties under the Income Tax Act. Case-Laws Income Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354160