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Mere fact of confirmation of addition cannot per se lead to confirmation of penalty U/s. 271(1)(c) of IT Act
Case Law Details
- Case Name
- ACIT Vs VIP Industries Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000- 2001
- Courts
- ITAT Mumbai
RELEVANT PARAGRAPH
8. We have heard the rival submissions and perused the relevant material on record. A great deal of emphasis had been laid by he Id. DR on the fact that since the addition has been upheld by the tribunal, then the penalty should also be confirmed. In our considered opinion the mere fact of confirmation of addition cannot per se lead to the confirmation of the penalty. It is obvious that both the quantum and the penalty proceedings are independent of each other. In the penalty proceedings the assessee is given chance to show that why the penalty be not imposed with reference ...
