When Additions are Deleted in Quantum Appeal, Penalty Cannot Survive

DCIT Vs Knight Riders Sports Pvt Ltd (ITAT Mumbai) This article discusses the legal case of DCIT Vs Knight Riders Sports Pvt Ltd, which was brought before the ITAT Mumbai. The case revolves around the penalty imposed on the assessee for inaccurate particulars, based on additions made in the assessment order. However, the co-ordinate bench deleted some of these additions in the quantum appeal, leading to questions about the sustainability of the penalty. The court noticed that the co-ordinate bench had deleted the quantum addition regarding Franchise Fees and remitted other issues for reconside...