Section 271(1)(c) Penalty Unsustainable if underlying quantum additions are under reassessment

Devendra Kumar Dubey Vs ITO (ITAT Agra) The case Devendra Kumar Dubey Vs Income Tax Officer (ITO), ITA No. 50/Agr/2023, concerns the imposition of a penalty of ₹34,803 under Section 271(1)(c) of the Income Tax Act, 1961, for alleged concealment of income for the assessment year 2015-16. The penalty was levied by the Assessing Officer (AO) and upheld by the Commissioner of Income Tax (Appeals) [CIT(A)] in an appellate order dated February 10, 2023. The appellant challenged the penalty before the Income Tax Appellate Tribunal (ITAT), Agra Bench, arguing procedural and substantive errors in the...