https://www.taxtmi.com/caselaws?id=757475 ITAT Mumbai allowed the assessee's appeal against penalty under section 271(1)(c). The tribunal found that since CIT(A) had deleted the quantum addition made by AO under section 147 read with section 144B in the assessment order, the penalty levied by AO and sustained by CIT(A) could not survive. ITAT set aside CIT(A)'s order and directed AO to delete the penalty, ruling in favor of the assessee. en-us Thu, 22 Aug 2024 00:00:00 +0530 Tue, 27 Aug 2024 08:18:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757475 ITAT Mumbai allowed the assessee's appeal against penalty under section 271(1)(c). The tribunal found that since CIT(A) had deleted the quantum addition made by AO under section 147 read with section 144B in the assessment order, the penalty levied by AO and sustained by CIT(A) could not survive. ITAT set aside CIT(A)'s order and directed AO to delete the penalty, ruling in favor of the assessee. Case-Laws Income Tax Thu, 22 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757475