https://www.taxtmi.com/highlights?id=79347 Penalty u/s 271(1)(c) levied pursuant to order passed u/s 143(3) read with Section 263 was challenged before ITAT, Jaipur Bench. ITAT quashed the order of Principal Commissioner of Income Tax passed u/s 263. Consequentially, the assessment order, being the basis for penalty levy, became unsustainable. Hence, the consequent levy of penalty was dismissed by ITAT. en-us Fri, 12 Jul 2024 16:40:06 +0530 Fri, 12 Jul 2024 16:40:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79347 Penalty u/s 271(1)(c) levied pursuant to order passed u/s 143(3) read with Section 263 was challenged before ITAT, Jaipur Bench. ITAT quashed the order of Principal Commissioner of Income Tax passed u/s 263. Consequentially, the assessment order, being the basis for penalty levy, became unsustainable. Hence, the consequent levy of penalty was dismissed by ITAT. Highlights Income Tax Fri, 12 Jul 2024 16:40:06 +0530 https://www.taxtmi.com/highlights?id=79347