https://www.taxtmi.com/highlights?id=58755 Penalty u/s 271(1)(c) - CIT(A) has given direction to the Assessing Officer to levy penalty equivalent to 100% tax under section 271(1)(c) of the Act. Mere estimate of income cannot fasten liability upon the assessee u/s.271(1)(c) of the Act. - it is settled law that learned CIT(A) has no power whatsoever to remit the matter to the Assessing Officer to pass a penalty order as per his direction. - AT en-us Tue, 13 Jul 2021 18:39:03 +0530 Tue, 13 Jul 2021 18:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58755 Penalty u/s 271(1)(c) - CIT(A) has given direction to the Assessing Officer to levy penalty equivalent to 100% tax under section 271(1)(c) of the Act. Mere estimate of income cannot fasten liability upon the assessee u/s.271(1)(c) of the Act. - it is settled law that learned CIT(A) has no power whatsoever to remit the matter to the Assessing Officer to pass a penalty order as per his direction. - AT Highlights Income Tax Tue, 13 Jul 2021 18:39:03 +0530 https://www.taxtmi.com/highlights?id=58755