https://www.taxtmi.com/caselaws?id=278122 The Tribunal set aside the penalty imposed by the Assessing Officer under section 271(1)(c) for unexplained cash deposits. The Tribunal held that altering the basis for penalty by the appellate authority renders the original satisfaction for penalty imposition void. Referring to legal precedents, it concluded that penalty under section 271(1)(c) cannot be sustained if there is ambiguity in the nature of the default. As a result, the penalty order was canceled, and the appellant's appeal was allowed, deeming the penalty unsustainable in law. en-us Thu, 15 Feb 2018 00:00:00 +0530 Fri, 11 Jan 2019 06:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278122 The Tribunal set aside the penalty imposed by the Assessing Officer under section 271(1)(c) for unexplained cash deposits. The Tribunal held that altering the basis for penalty by the appellate authority renders the original satisfaction for penalty imposition void. Referring to legal precedents, it concluded that penalty under section 271(1)(c) cannot be sustained if there is ambiguity in the nature of the default. As a result, the penalty order was canceled, and the appellant's appeal was allowed, deeming the penalty unsustainable in law. Case-Laws Income Tax Thu, 15 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278122