https://www.taxtmi.com/caselaws?id=421007 The Tribunal allowed the appeal, directing the AO to delete the penalty of Rs. 11,50,000 levied under section 271(1)(c). The Tribunal emphasized that penalty proceedings are distinct and require independent verification, and mere additions during quantum proceedings do not automatically justify penalties. en-us Fri, 08 Apr 2022 00:00:00 +0530 Fri, 15 Apr 2022 08:54:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421007 The Tribunal allowed the appeal, directing the AO to delete the penalty of Rs. 11,50,000 levied under section 271(1)(c). The Tribunal emphasized that penalty proceedings are distinct and require independent verification, and mere additions during quantum proceedings do not automatically justify penalties. Case-Laws Income Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421007