HC directs AO to revise penalty orders in light of  fresh/revised assessment orders

P.M. Abdul Nazeer Vs ACIT (Kerala High Court) Introduction: The Kerala High Court, in the case of P.M. Abdul Nazeer vs ACIT, issued a directive for the revision of penalty orders (Ext. P5 to P11) dated 31.03.2023. The penalty was imposed under Sections 271(1)(c) and 271AAB of the Income Tax Act, 1961, for the assessment years 2008-09 to 2014-15. The court’s decision stems from the petitioner’s plea to quash the penalty orders based on a fresh assessment. Detailed Analysis: The respondent had passed assessment orders on 31.03.2016, leading to the issuance of show cause notices for p...