https://www.taxtmi.com/caselaws?id=378775 The Tribunal canceled the penalty imposed under section 271(1)(c) of the Income Tax Act as no additions were made in the fresh assessment, rendering the basis for the penalty null. The original assessment order was set aside, and the AO did not substantiate the additions on which the penalty was based in the re-adjudication. Consequently, the Tribunal found no justification for imposing the penalty and set aside the Revenue's orders, ruling in favor of the appellant. en-us Thu, 18 Apr 2019 00:00:00 +0530 Mon, 22 Apr 2019 08:26:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378775 The Tribunal canceled the penalty imposed under section 271(1)(c) of the Income Tax Act as no additions were made in the fresh assessment, rendering the basis for the penalty null. The original assessment order was set aside, and the AO did not substantiate the additions on which the penalty was based in the re-adjudication. Consequently, the Tribunal found no justification for imposing the penalty and set aside the Revenue's orders, ruling in favor of the appellant. Case-Laws Income Tax Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378775