https://www.taxtmi.com/caselaws?id=449068 The ITAT, Raipur allowed the appeal, directing the deletion of the penalty imposed under section 271(1)(c) for AY 2009-10. The penalty was initially confirmed by the CIT(A) based on a quantum addition by the AO, which was later vacated by the ITAT. Since the basis for the penalty no longer existed, the penalty was deemed arbitrary and unsustainable, leading to its deletion. en-us Tue, 30 Jan 2024 00:00:00 +0530 Sat, 03 Feb 2024 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449068 The ITAT, Raipur allowed the appeal, directing the deletion of the penalty imposed under section 271(1)(c) for AY 2009-10. The penalty was initially confirmed by the CIT(A) based on a quantum addition by the AO, which was later vacated by the ITAT. Since the basis for the penalty no longer existed, the penalty was deemed arbitrary and unsustainable, leading to its deletion. Case-Laws Income Tax Tue, 30 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449068