https://www.taxtmi.com/caselaws?id=379081 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) of the Act. The basis for the penalty was found to no longer exist as the addition made by the Assessing Officer was previously deleted by the Tribunal in relation to the sale of equity shares. Consequently, the penalty was removed, and the appeal of the assessee was allowed. en-us Wed, 24 Apr 2019 00:00:00 +0530 Sat, 27 Apr 2019 06:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379081 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) of the Act. The basis for the penalty was found to no longer exist as the addition made by the Assessing Officer was previously deleted by the Tribunal in relation to the sale of equity shares. Consequently, the penalty was removed, and the appeal of the assessee was allowed. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379081