https://www.taxtmi.com/caselaws?id=423279 The ITAT Mumbai upheld the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961 by the CIT(A) for the Assessment Year 2011-12. The penalty of Rs. 2,86,97,054/- was deleted based on specific circumstances and ITAT orders. The ITAT upheld the decision due to the deletion of certain additions/disallowances and the remand of specific issues for reconsideration by the Assessing Officer. en-us Mon, 23 May 2022 00:00:00 +0530 Thu, 02 Jun 2022 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423279 The ITAT Mumbai upheld the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961 by the CIT(A) for the Assessment Year 2011-12. The penalty of Rs. 2,86,97,054/- was deleted based on specific circumstances and ITAT orders. The ITAT upheld the decision due to the deletion of certain additions/disallowances and the remand of specific issues for reconsideration by the Assessing Officer. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423279