https://www.taxtmi.com/caselaws?id=339520 The ITAT ruled in favor of the assessee, setting aside the penalty imposed under section 271(1)(c) due to the invalidity of the notice issued by the Assessing Officer. The judgment emphasized the necessity of specifying the grounds for penalty in the notice, as required by legal precedents, resulting in the annulment of the penalty order in this instance. en-us Wed, 04 Jan 2017 00:00:00 +0530 Wed, 01 Mar 2017 09:05:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339520 The ITAT ruled in favor of the assessee, setting aside the penalty imposed under section 271(1)(c) due to the invalidity of the notice issued by the Assessing Officer. The judgment emphasized the necessity of specifying the grounds for penalty in the notice, as required by legal precedents, resulting in the annulment of the penalty order in this instance. Case-Laws Income Tax Wed, 04 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339520