Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (1) TMI 646 - AT - Income TaxPenalty u/s. 271(1)(c) - addition of the assessee's agricultural income and addition of the sundry creditors u/s. 69-A - HELD THAT:- As addition of sundry creditors u/s. 69-A and addition of the assessee's agricultural income by treating the same as his income from other sources which had formed the very basis for saddling the assessee with penalty u/s. 271(1)(c) of the Act, had been vacated by the Tribunal while disposing off the assessee's quantum appeal [2018 (11) TMI 1888 - ITAT PUNE] In the backdrop of the aforesaid fact, now when the abovementioned additions which formed the very basis for levy of penalty u/s. 271(1)(c) of the Act had been vacated, therefore, the penalty imposed by the A.O. u/s. 271(1)(c) cannot survive on a standalone basis and has to meet the same fate. - Decided in favour of assessee.
|