https://www.taxtmi.com/caselaws?id=178450 The Tribunal revoked the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, due to the lack of specific reasons stated in the notice issued by the Assessing Officer. Emphasizing the importance of clearly stating grounds for penalty imposition, the Tribunal aligned its decision with the jurisdictional High Court's ruling, ensuring the principles of natural justice were upheld. The appeal was allowed, highlighting the necessity for transparency and specificity in penalty proceedings to protect the rights of the assessee and maintain procedural integrity. en-us Thu, 11 Jun 2015 00:00:00 +0530 Fri, 05 Feb 2016 06:49:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178450 The Tribunal revoked the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, due to the lack of specific reasons stated in the notice issued by the Assessing Officer. Emphasizing the importance of clearly stating grounds for penalty imposition, the Tribunal aligned its decision with the jurisdictional High Court's ruling, ensuring the principles of natural justice were upheld. The appeal was allowed, highlighting the necessity for transparency and specificity in penalty proceedings to protect the rights of the assessee and maintain procedural integrity. Case-Laws Income Tax Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178450