https://www.taxtmi.com/caselaws?id=411343 The ITAT dismissed all revenue appeals for AYs 2009-10 to 2011-12, upholding the CIT(A)'s decision to vacate penalties imposed under section 271(1)(c) of the Income Tax Act. The appeals were dismissed due to the lack of merit in maintaining them under CBDT Circulars, emphasizing the independence of penalty proceedings from quantum assessments. The ITAT ruled that CBDT Circular exceptions apply only to additions, not penalties, leading to the dismissal of the appeals for all assessment years. en-us Mon, 19 Jul 2021 00:00:00 +0530 Sat, 21 Aug 2021 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411343 The ITAT dismissed all revenue appeals for AYs 2009-10 to 2011-12, upholding the CIT(A)'s decision to vacate penalties imposed under section 271(1)(c) of the Income Tax Act. The appeals were dismissed due to the lack of merit in maintaining them under CBDT Circulars, emphasizing the independence of penalty proceedings from quantum assessments. The ITAT ruled that CBDT Circular exceptions apply only to additions, not penalties, leading to the dismissal of the appeals for all assessment years. Case-Laws Income Tax Mon, 19 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411343