Tribunal Nullifies Income Tax Order, Deletes Penalty Imposed u/s 271(1)(c) Due to Lack of Basis.

Tribunal Nullifies Income Tax Order, Deletes Penalty Imposed u/s 271(1)(c) Due to Lack of Basis. https://www.taxtmi.com/highlights?id=44857 Penalty u/s 271(1)(c) - Tribunal has set aside the order of the CIT(A) regarding enhancement of income, therefore, the very basis on which the penalty was levied by the CIT(A) does not survive. Penalty deleted. en-us Sat, 02 Mar 2019 13:52:58 +0530 Sat, 02 Mar 2019 13:52:58 +0530 TaxTMI RSS Generator Tribunal Nullifies Income Tax Order, Deletes Penalty Imposed u/s 271(1)(c) Due to Lack of Basis. https://www.taxtmi.com/highlights?id=44857 Penalty u/s 271(1)(c) - Tribunal has set aside the order of the CIT(A) regarding enhancement of income, therefore, the very basis on which the penalty was levied by the CIT(A) does not survive. Penalty deleted. Highlights Income Tax Sat, 02 Mar 2019 13:52:58 +0530 https://www.taxtmi.com/highlights?id=44857