https://www.taxtmi.com/caselaws?id=420957 The court upheld the initiation of penalty proceedings under Section 221(1) of the Income Tax Act, 1961, despite the petitioner's pending appeal against the assessment order and stay application. The court found the rejection of the stay application to be reasoned and within the Assessing Officer's discretion, emphasizing the opportunity provided to the assessee to be heard. The court dismissed the writ petition challenging the penalty proceedings, allowing the petitioner to continue pursuing the pending stay application without awarding costs. en-us Mon, 21 Feb 2022 00:00:00 +0530 Thu, 14 Apr 2022 08:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420957 The court upheld the initiation of penalty proceedings under Section 221(1) of the Income Tax Act, 1961, despite the petitioner's pending appeal against the assessment order and stay application. The court found the rejection of the stay application to be reasoned and within the Assessing Officer's discretion, emphasizing the opportunity provided to the assessee to be heard. The court dismissed the writ petition challenging the penalty proceedings, allowing the petitioner to continue pursuing the pending stay application without awarding costs. Case-Laws Income Tax Mon, 21 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420957