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| The Tax Publishers2020 TaxPub(DT) 1080 (Pune-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
When addition being subject-matter of penalty stood deleted by Tribunal on merits in quantum proceedings, impugned penalty levied under section 271(1)(c) could not survive.
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Penalty under section 271(1)(c) - Concealment or furnishing of inaccurate particulars - Leviability - Deletion of quantum addition forming the basis for levy of penalty
AO made addition on account of unexplained investment and levied penalty under section 271(1)(c). Assessee challenged penalty levied by AO on the ground of deletion of addition by Tribunal in quantum proceedings.Held: When addition being subject-matter of penalty stood deleted by Tribunal on merits in quantum proceedings, impugned penalty levied under section 271(1)(c) could not survive.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2003-04
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