https://www.taxtmi.com/caselaws?id=466829 Whether a penalty confirmed under section 271(1)(c) can stand when the assessment on which it was based is set aside: ITAT examined the necessary temporal and logical link between a penalty confirmation and the continued existence of the foundational assessment and held that once the first appellate authority set aside the original assessment and directed a de novo assessment the confirmation lacked an operative foundation; consequently the tribunal set aside the penalty confirmation and deleted the penalty, permitting the Assessing Officer to initiate penalty proceedings afresh after completion of the de novo assessment. en-us Fri, 28 Feb 2025 00:00:00 +0530 Fri, 20 Feb 2026 20:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466829 Whether a penalty confirmed under section 271(1)(c) can stand when the assessment on which it was based is set aside: ITAT examined the necessary temporal and logical link between a penalty confirmation and the continued existence of the foundational assessment and held that once the first appellate authority set aside the original assessment and directed a de novo assessment the confirmation lacked an operative foundation; consequently the tribunal set aside the penalty confirmation and deleted the penalty, permitting the Assessing Officer to initiate penalty proceedings afresh after completion of the de novo assessment. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466829