https://www.taxtmi.com/highlights?id=54224 Levy of penalty u/s 271(1)(b) - It is a settled position that assessment and penalty proceedings are two separate and distinct proceedings and though reference can be drawn to the findings in the assessment order, the AO has to record independent findings as to why penalty may be levied in the given case - AT en-us Sat, 01 Aug 2020 11:28:25 +0530 Sat, 01 Aug 2020 11:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54224 Levy of penalty u/s 271(1)(b) - It is a settled position that assessment and penalty proceedings are two separate and distinct proceedings and though reference can be drawn to the findings in the assessment order, the AO has to record independent findings as to why penalty may be levied in the given case - AT Highlights Income Tax Sat, 01 Aug 2020 11:28:25 +0530 https://www.taxtmi.com/highlights?id=54224