https://www.taxtmi.com/caselaws?id=300928 The ITAT ruled in favor of the Assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was deemed unjustified as the assessment order, forming its basis, had been set aside in a previous case. Following the precedent that without valid additions in the assessment order, no penalty for concealment can be levied, the ITAT upheld the appeal and annulled the penalty. en-us Tue, 27 Apr 2021 00:00:00 +0530 Fri, 04 Mar 2022 08:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300928 The ITAT ruled in favor of the Assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was deemed unjustified as the assessment order, forming its basis, had been set aside in a previous case. Following the precedent that without valid additions in the assessment order, no penalty for concealment can be levied, the ITAT upheld the appeal and annulled the penalty. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300928