https://www.taxtmi.com/caselaws?id=367661 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, leading to the deletion of the penalty imposed by the Commissioner of Income Tax (Appeals) under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2000-01. The ITAT found that since the addition on which the penalty was based had been deleted by the Commissioner, there was no valid basis for the penalty. Consequently, the penalty was directed to be deleted, and the decision was pronounced in Open Court. en-us Sat, 07 Jul 2018 00:00:00 +0530 Mon, 01 Oct 2018 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367661 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, leading to the deletion of the penalty imposed by the Commissioner of Income Tax (Appeals) under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2000-01. The ITAT found that since the addition on which the penalty was based had been deleted by the Commissioner, there was no valid basis for the penalty. Consequently, the penalty was directed to be deleted, and the decision was pronounced in Open Court. Case-Laws Income Tax Sat, 07 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367661