https://www.taxtmi.com/caselaws?id=443116 The Tribunal upheld the order deleting the penalty on its merits, dismissing all eight appeals by the Revenue. The decision emphasized that when the basis for penalty imposition ceases to exist, the penalty itself cannot be sustained. The judgment was pronounced on July 13th, 2023, in accordance with Rule 34 of ITAT Rules. en-us Thu, 13 Jul 2023 00:00:00 +0530 Fri, 15 Sep 2023 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443116 The Tribunal upheld the order deleting the penalty on its merits, dismissing all eight appeals by the Revenue. The decision emphasized that when the basis for penalty imposition ceases to exist, the penalty itself cannot be sustained. The judgment was pronounced on July 13th, 2023, in accordance with Rule 34 of ITAT Rules. Case-Laws Income Tax Thu, 13 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443116