https://www.taxtmi.com/caselaws?id=407993 The Tribunal allowed the appellant's appeal challenging a penalty order under section 271(l)(c) of the Income Tax Act, 1961 for A.Y. 2009-10. The Tribunal found that the penalty order was against natural justice principles as the assessee was not given sufficient opportunity to substantiate their claim. As the additions forming the basis of the penalty were remanded for reevaluation, the penalty did not survive, leading to the allowance of the appeal. The Tribunal directed the Assessing Officer to initiate fresh penalty proceedings after completing the reevaluation process, ensuring fairness and compliance with legal procedures. en-us Thu, 27 May 2021 00:00:00 +0530 Fri, 28 May 2021 08:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407993 The Tribunal allowed the appellant's appeal challenging a penalty order under section 271(l)(c) of the Income Tax Act, 1961 for A.Y. 2009-10. The Tribunal found that the penalty order was against natural justice principles as the assessee was not given sufficient opportunity to substantiate their claim. As the additions forming the basis of the penalty were remanded for reevaluation, the penalty did not survive, leading to the allowance of the appeal. The Tribunal directed the Assessing Officer to initiate fresh penalty proceedings after completing the reevaluation process, ensuring fairness and compliance with legal procedures. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407993