https://www.taxtmi.com/caselaws?id=383575 The ITAT dismissed the Revenue's appeal, upholding the deletion of a penalty for furnishing inaccurate income particulars. The penalty was deleted as the quantum addition was set aside for re-examination, following the principle that if the basis for the penalty is nullified, the penalty cannot stand alone. This decision was supported by legal precedent, emphasizing that the penalty for concealment cannot be sustained if the underlying additions are cancelled or set aside. en-us Wed, 24 Jul 2019 00:00:00 +0530 Fri, 26 Jul 2019 08:34:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383575 The ITAT dismissed the Revenue's appeal, upholding the deletion of a penalty for furnishing inaccurate income particulars. The penalty was deleted as the quantum addition was set aside for re-examination, following the principle that if the basis for the penalty is nullified, the penalty cannot stand alone. This decision was supported by legal precedent, emphasizing that the penalty for concealment cannot be sustained if the underlying additions are cancelled or set aside. Case-Laws Income Tax Wed, 24 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383575