https://www.taxtmi.com/caselaws?id=385230 The court dismissed the appeals, upholding the deletion of the penalty imposed by the Assessing Officer (AO) under Section 271(1)(c) of the Income Tax Act. The court found that the Revenue failed to prove that the assessee concealed income or furnished inaccurate particulars. The court emphasized the need for independent consideration in penalty proceedings and concluded that findings in assessment proceedings cannot automatically lead to penalties without additional evidence. The court ruled in favor of the assessee, highlighting the distinction between assessment and penalty proceedings. en-us Mon, 26 Aug 2019 00:00:00 +0530 Fri, 24 Jan 2020 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385230 The court dismissed the appeals, upholding the deletion of the penalty imposed by the Assessing Officer (AO) under Section 271(1)(c) of the Income Tax Act. The court found that the Revenue failed to prove that the assessee concealed income or furnished inaccurate particulars. The court emphasized the need for independent consideration in penalty proceedings and concluded that findings in assessment proceedings cannot automatically lead to penalties without additional evidence. The court ruled in favor of the assessee, highlighting the distinction between assessment and penalty proceedings. Case-Laws Income Tax Mon, 26 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385230