https://www.taxtmi.com/caselaws?id=377140 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal held that since the additions forming the basis of the penalty were nullified due to the unlawful reopening of the assessment, the penalty itself was unsustainable. Consequently, the penalty was deemed unwarranted, and the Tribunal overturned the orders of the Revenue authorities, annulling the penalty of Rs. 2,82,4323 imposed on the appellant. en-us Fri, 22 Mar 2019 00:00:00 +0530 Sun, 24 Mar 2019 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377140 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal held that since the additions forming the basis of the penalty were nullified due to the unlawful reopening of the assessment, the penalty itself was unsustainable. Consequently, the penalty was deemed unwarranted, and the Tribunal overturned the orders of the Revenue authorities, annulling the penalty of Rs. 2,82,4323 imposed on the appellant. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377140