https://www.taxtmi.com/caselaws?id=798820 Penalty for concealment or furnishing inaccurate particulars cannot survive where the quantum addition forming its sole basis is deleted. The original assessment's addition for alleged bogus purchases was set aside, and the Assessing Officer accepted the explanation in the fresh assessment and deleted the addition entirely. As the penalty rested exclusively on that addition, its foundation ceased to exist, requiring deletion of the penalty. en-us Wed, 09 Sep 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798820 Penalty for concealment or furnishing inaccurate particulars cannot survive where the quantum addition forming its sole basis is deleted. The original assessment's addition for alleged bogus purchases was set aside, and the Assessing Officer accepted the explanation in the fresh assessment and deleted the addition entirely. As the penalty rested exclusively on that addition, its foundation ceased to exist, requiring deletion of the penalty. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798820