https://www.taxtmi.com/caselaws?id=326836 The Tribunal allowed the appeal, canceling the penalty of Rs. 23,77,742/- imposed by the AO on the assessee. The penalty was annulled due to the invalidity of the notice, which failed to clearly specify the grounds for penalty as required by law. The Tribunal did not delve into the substantive merits of the case but ruled in favor of the assessee based on the technical deficiency in the penalty notice. en-us Fri, 18 Mar 2016 00:00:00 +0530 Tue, 26 Apr 2016 10:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326836 The Tribunal allowed the appeal, canceling the penalty of Rs. 23,77,742/- imposed by the AO on the assessee. The penalty was annulled due to the invalidity of the notice, which failed to clearly specify the grounds for penalty as required by law. The Tribunal did not delve into the substantive merits of the case but ruled in favor of the assessee based on the technical deficiency in the penalty notice. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326836