Section 271(1)(c) Penalty Order Set Aside for Being Non-Speaking

Marut Paper Products Pvt. Ltd. Vs ACIT (ITAT Lucknow) Penalty u/s 271(1)(c) Cannot Be Confirmed by Non-Speaking Order—Matter Remanded In Marut Paper Products Pvt. Ltd. v. ACIT, Central Circle-1, Kanpur (ITA No. 393/LKW/2023; AY 2016-17), the ITAT Lucknow Bench examined the validity of an appellate order whereby the CIT(A) confirmed a penalty of ₹47,21,400 under Section 271(1)(c). The assessee contended that the CIT(A) dismissed the appeal in limine for want of prosecution, without examining the merits of the penalty or passing a reasoned order. The Revenue left the matter to the discretion...