https://www.taxtmi.com/caselaws?id=255719 The penalty imposed under Section 271G of the Income Tax Act, amounting to Rs. 2,16,47,823/-, was deleted by the ITAT. The deletion was upheld due to the vague and non-specific notices issued by the Assessing Officer, which did not clearly specify the required documents. The ITAT emphasized the need for specific findings in penalty orders. The ITAT also dismissed the assessee's argument that the penalty order was barred by limitation as it was not raised before the CIT(A). Both the Revenue's appeal and the assessee's cross-objection were dismissed. en-us Fri, 16 Jan 2015 00:00:00 +0530 Thu, 20 Aug 2015 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255719 The penalty imposed under Section 271G of the Income Tax Act, amounting to Rs. 2,16,47,823/-, was deleted by the ITAT. The deletion was upheld due to the vague and non-specific notices issued by the Assessing Officer, which did not clearly specify the required documents. The ITAT emphasized the need for specific findings in penalty orders. The ITAT also dismissed the assessee's argument that the penalty order was barred by limitation as it was not raised before the CIT(A). Both the Revenue's appeal and the assessee's cross-objection were dismissed. Case-Laws Income Tax Fri, 16 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255719