https://www.taxtmi.com/caselaws?id=440937 Penalty under section 271(1)(c) cannot stand where it is based entirely on an addition made in reassessment proceedings and that addition has already been held to be beyond the Assessing Officer's jurisdiction under section 147. The penalty is consequential to the quantum addition, so once the underlying addition is found to be without jurisdiction, the related concealment penalty loses its independent basis and is deleted. en-us Thu, 27 Jul 2023 00:00:00 +0530 Sat, 29 Jul 2023 08:11:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440937 Penalty under section 271(1)(c) cannot stand where it is based entirely on an addition made in reassessment proceedings and that addition has already been held to be beyond the Assessing Officer's jurisdiction under section 147. The penalty is consequential to the quantum addition, so once the underlying addition is found to be without jurisdiction, the related concealment penalty loses its independent basis and is deleted. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440937