https://www.taxtmi.com/caselaws?id=376112 The Tribunal set aside the CIT(A)'s penalty imposition under section 271(1)(c) of the IT Act on enhanced income for Assessment Years 2012-13 and 2014-15. The Tribunal ruled in favor of the Resident Welfare Association, deleting the penalty as the basis for it ceased to exist after the Tribunal's decision on the income enhancement issue. The appeals were granted in favor of the assessee, emphasizing the Tribunal's authority and directing a re-examination of the income items by the Assessing Officer. en-us Wed, 27 Feb 2019 00:00:00 +0530 Sat, 02 Mar 2019 13:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376112 The Tribunal set aside the CIT(A)'s penalty imposition under section 271(1)(c) of the IT Act on enhanced income for Assessment Years 2012-13 and 2014-15. The Tribunal ruled in favor of the Resident Welfare Association, deleting the penalty as the basis for it ceased to exist after the Tribunal's decision on the income enhancement issue. The appeals were granted in favor of the assessee, emphasizing the Tribunal's authority and directing a re-examination of the income items by the Assessing Officer. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376112