https://www.taxtmi.com/caselaws?id=344126 The Tribunal allowed the assessee's appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was canceled due to the defective statutory notice issued under section 274, which did not specify the grounds for the penalty, and the substantiated claim of business purpose for the expenses related to Nepal. The Tribunal held that a vague notice violates principles of natural justice and does not satisfy legal requirements, resulting in the cancellation of the penalty. en-us Wed, 31 May 2017 00:00:00 +0530 Fri, 09 Jun 2017 05:35:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344126 The Tribunal allowed the assessee's appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was canceled due to the defective statutory notice issued under section 274, which did not specify the grounds for the penalty, and the substantiated claim of business purpose for the expenses related to Nepal. The Tribunal held that a vague notice violates principles of natural justice and does not satisfy legal requirements, resulting in the cancellation of the penalty. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344126