https://www.taxtmi.com/caselaws?id=395920 The Tribunal found the penalty under section 221(1) of the Income Tax Act unsustainable due to the deletion of additions and absence of outstanding tax demand. Referring to Section 221(2) of the Act, the Tribunal canceled the penalty and allowed the appeal of the assessee based on the final order of the CIT(A) and the revised computation of income. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 11:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395920 The Tribunal found the penalty under section 221(1) of the Income Tax Act unsustainable due to the deletion of additions and absence of outstanding tax demand. Referring to Section 221(2) of the Act, the Tribunal canceled the penalty and allowed the appeal of the assessee based on the final order of the CIT(A) and the revised computation of income. Case-Laws Income Tax Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395920