https://www.taxtmi.com/caselaws?id=401650 The ITAT allowed the appeal by the assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the High Court had admitted substantial questions of law regarding the quantum assessment, making the additions debatable. Consequently, the penalty for alleged concealment was deemed unsustainable. en-us Thu, 10 Dec 2020 00:00:00 +0530 Tue, 05 Nov 2024 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401650 The ITAT allowed the appeal by the assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the High Court had admitted substantial questions of law regarding the quantum assessment, making the additions debatable. Consequently, the penalty for alleged concealment was deemed unsustainable. Case-Laws Income Tax Thu, 10 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401650