https://www.taxtmi.com/caselaws?id=765613 The Tribunal deleted the penalty of Rs. 1,13,900/- imposed under Section 271(1)(c) of the Income Tax Act, 1961, due to the addition of Rs. 12,18,000/- to the assessee's income. This penalty was initially confirmed by the CIT(A) despite the ITAT's earlier decision to delete the quantum addition. The Tribunal found that the CIT(A) failed to provide independent reasoning and ignored the ITAT's order, violating judicial principles. Consequently, the penalty was deemed unsustainable, and the appeal was allowed in favor of the assessee. en-us Fri, 31 Jan 2025 00:00:00 +0530 Wed, 05 Feb 2025 08:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765613 The Tribunal deleted the penalty of Rs. 1,13,900/- imposed under Section 271(1)(c) of the Income Tax Act, 1961, due to the addition of Rs. 12,18,000/- to the assessee's income. This penalty was initially confirmed by the CIT(A) despite the ITAT's earlier decision to delete the quantum addition. The Tribunal found that the CIT(A) failed to provide independent reasoning and ignored the ITAT's order, violating judicial principles. Consequently, the penalty was deemed unsustainable, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765613