ITAT Indore Drops Penalty Under Section 271AAC: “When Quantum Fails, Penalty Cannot Survive” In an important reaffirmation of a settled principle of tax jurisprudence, the Indore Bench of the Income Tax Appellate Tribunal (ITAT Indore) has held that penalty proceedings under Section 271AAC cannot survive independently once the underlying quantum assessment itself has…
The post ITAT Indore Drops Penalty Under Section 271AAC: “When Quantum Fails, Penalty Cannot Survive” appeared first on The Tax Talk.
