https://www.taxtmi.com/caselaws?id=413622 The ITAT allowed the Assessee's appeal and quashed the penalty order under Section 271(1)(c) due to the corresponding assessment order being quashed. The ITAT held that when additions in the assessment order are deleted, the penalty cannot stand alone and must be canceled, citing the precedent in K.C. Builders vs. ACIT. Therefore, the penalty levied by the Assessing Officer on 30.03.2016 was canceled. en-us Tue, 12 Oct 2021 00:00:00 +0530 Thu, 14 Oct 2021 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413622 The ITAT allowed the Assessee's appeal and quashed the penalty order under Section 271(1)(c) due to the corresponding assessment order being quashed. The ITAT held that when additions in the assessment order are deleted, the penalty cannot stand alone and must be canceled, citing the precedent in K.C. Builders vs. ACIT. Therefore, the penalty levied by the Assessing Officer on 30.03.2016 was canceled. Case-Laws Income Tax Tue, 12 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413622