https://www.taxtmi.com/caselaws?id=467736 Penalty under section 271AAB(1A) could not be sustained where the additions forming its foundation were deleted in quantum proceedings and only one issue was restored to the Assessing Officer for fresh consideration. As the jewellery and unexplained investment additions were fully deleted, no completed addition remained for the relevant assessment year to support the levy. The penalty order was therefore set aside because the underlying tax basis for imposition had ceased to exist. en-us Mon, 17 Feb 2025 00:00:00 +0530 Tue, 31 Mar 2026 19:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467736 Penalty under section 271AAB(1A) could not be sustained where the additions forming its foundation were deleted in quantum proceedings and only one issue was restored to the Assessing Officer for fresh consideration. As the jewellery and unexplained investment additions were fully deleted, no completed addition remained for the relevant assessment year to support the levy. The penalty order was therefore set aside because the underlying tax basis for imposition had ceased to exist. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467736