https://www.taxtmi.com/caselaws?id=796009 Penalty for concealment under Section 271(1)(c) cannot survive where the underlying reassessment and the first appellate quantum order have been quashed. Reassessment proceedings were invalid because they were initiated without due application of mind; consequently, the assessment forming the basis for the penalty no longer subsisted. The penalty order therefore lacked an independent foundation and was quashed in favour of the assessee. en-us Mon, 27 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 08:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796009 Penalty for concealment under Section 271(1)(c) cannot survive where the underlying reassessment and the first appellate quantum order have been quashed. Reassessment proceedings were invalid because they were initiated without due application of mind; consequently, the assessment forming the basis for the penalty no longer subsisted. The penalty order therefore lacked an independent foundation and was quashed in favour of the assessee. Case-Laws Income Tax Mon, 27 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796009