https://www.taxtmi.com/caselaws?id=768686 INCOME TAX TRIBUNAL CASE SUMMARYThe Tribunal addressed penalties under Section 271(1)(c) of Income-tax Act. After reviewing the assessment orders, the Tribunal found no incriminating material and quashed the penalties. Following precedent from SC in K.C. Builders case, the Tribunal ruled that penalties cannot survive when underlying assessment orders are invalidated. Appeals by assessees were allowed, and penalties were set aside. en-us Wed, 09 Apr 2025 00:00:00 +0530 Fri, 11 Apr 2025 08:40:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768686 INCOME TAX TRIBUNAL CASE SUMMARYThe Tribunal addressed penalties under Section 271(1)(c) of Income-tax Act. After reviewing the assessment orders, the Tribunal found no incriminating material and quashed the penalties. Following precedent from SC in K.C. Builders case, the Tribunal ruled that penalties cannot survive when underlying assessment orders are invalidated. Appeals by assessees were allowed, and penalties were set aside. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768686