https://www.taxtmi.com/caselaws?id=395650 Penalty for an enhanced addition under section 271(1)(c) requires specific initiation of penalty proceedings and recorded satisfaction in respect of that particular addition. Where an appellate authority makes the enhancement but no such initiation or satisfaction is recorded, the legal basis for penalty is unsustainable and the penalty is liable to be deleted. The ordinary period for pronouncing an ITAT order under rule 34(5) may be applied flexibly where lockdown-related disruption and applicable judicial or administrative extensions make timely pronouncement impracticable; the affected period may be excluded in determining compliance. en-us Wed, 27 May 2020 00:00:00 +0530 Mon, 01 Jun 2020 09:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395650 Penalty for an enhanced addition under section 271(1)(c) requires specific initiation of penalty proceedings and recorded satisfaction in respect of that particular addition. Where an appellate authority makes the enhancement but no such initiation or satisfaction is recorded, the legal basis for penalty is unsustainable and the penalty is liable to be deleted. The ordinary period for pronouncing an ITAT order under rule 34(5) may be applied flexibly where lockdown-related disruption and applicable judicial or administrative extensions make timely pronouncement impracticable; the affected period may be excluded in determining compliance. Case-Laws Income Tax Wed, 27 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395650