https://www.taxtmi.com/caselaws?id=24493 Penalty under section 271(1)(c) could not survive once the reassessment addition on which it was founded was deleted. The penalty had been imposed solely because of that addition, and when the Tribunal removed the addition, the basis for alleging concealment or furnishing of inaccurate particulars disappeared. The Tribunal was therefore justified in cancelling the penalty, and the issue was decided in favour of the assessee. en-us Wed, 07 Dec 1988 00:00:00 +0530 Wed, 20 Jan 2010 15:40:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24493 Penalty under section 271(1)(c) could not survive once the reassessment addition on which it was founded was deleted. The penalty had been imposed solely because of that addition, and when the Tribunal removed the addition, the basis for alleging concealment or furnishing of inaccurate particulars disappeared. The Tribunal was therefore justified in cancelling the penalty, and the issue was decided in favour of the assessee. Case-Laws Income Tax Wed, 07 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24493