https://www.taxtmi.com/caselaws?id=402806 The Tribunal confirmed the penalty under section 271(1)(c) of the Income Tax Act based on findings in quantum proceedings, rejecting the assessee's argument that penalty should not be solely based on quantum findings. The Tribunal emphasized that its power to rectify orders was limited to correcting apparent mistakes and not to review legal interpretations or factual findings, leading to the dismissal of the assessee's application challenging the penalty confirmation. en-us Fri, 18 Dec 2020 00:00:00 +0530 Wed, 13 Jan 2021 11:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402806 The Tribunal confirmed the penalty under section 271(1)(c) of the Income Tax Act based on findings in quantum proceedings, rejecting the assessee's argument that penalty should not be solely based on quantum findings. The Tribunal emphasized that its power to rectify orders was limited to correcting apparent mistakes and not to review legal interpretations or factual findings, leading to the dismissal of the assessee's application challenging the penalty confirmation. Case-Laws Income Tax Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402806