https://www.taxtmi.com/caselaws?id=467648 Penalty proceedings under the Income-tax Act could not stand where the underlying assessments had already been quashed for want of valid approval under section 153D. The Tribunal had held that the approval was mechanical, generic, and issued without application of mind, rendering the assessment orders invalid and non est. Because the penalties were wholly consequential to those assessments and based on enhanced income for multiple years, the disappearance of the assessment basis meant the penalty basis also fell away. The penalty was therefore deleted. en-us Mon, 17 Feb 2025 00:00:00 +0530 Fri, 27 Mar 2026 19:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467648 Penalty proceedings under the Income-tax Act could not stand where the underlying assessments had already been quashed for want of valid approval under section 153D. The Tribunal had held that the approval was mechanical, generic, and issued without application of mind, rendering the assessment orders invalid and non est. Because the penalties were wholly consequential to those assessments and based on enhanced income for multiple years, the disappearance of the assessment basis meant the penalty basis also fell away. The penalty was therefore deleted. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467648