https://www.taxtmi.com/caselaws?id=457053 Where an assessee showed sufficient cause for earlier non-compliance and sought to file supporting material, the quantum assessment was restored to the Assessing Officer for fresh adjudication after giving a proper and reasonable opportunity. As the penalty under section 271(1)(c) was founded on that quantum addition, it could not be sustained once the underlying assessment was remitted for reconsideration. The penalty was therefore set aside at that stage, while leaving the Revenue free to proceed again after the fresh assessment if warranted. en-us Fri, 18 Aug 2023 00:00:00 +0530 Tue, 03 Sep 2024 14:44:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457053 Where an assessee showed sufficient cause for earlier non-compliance and sought to file supporting material, the quantum assessment was restored to the Assessing Officer for fresh adjudication after giving a proper and reasonable opportunity. As the penalty under section 271(1)(c) was founded on that quantum addition, it could not be sustained once the underlying assessment was remitted for reconsideration. The penalty was therefore set aside at that stage, while leaving the Revenue free to proceed again after the fresh assessment if warranted. Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457053