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2021 (7) TMI 43 - AT - Income TaxLevy of penalty u/s. 271(1)(c) - addition of notional interest in HDFC Bank account - HELD THAT:- Since the addition has been deleted, the penalty so levied must also be deleted. Sublato Fundamento Cadit Opus, meaning thereby, that in case the foundation is removed, the super structure falls. Since the foundation [addition] has been removed, the super structure i.e. penalty must fall. We, accordingly, direct the ld. CIT(A) to delete the penalty so levied.
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