https://www.taxtmi.com/caselaws?id=351186 The tribunal allowed the appeals of the assessee, directing the deletion of penalties imposed under section 271(1)(c) for all the assessment years in question. The penalties were deleted due to the lack of clear specification of charges by the Assessing Officer, leading to ambiguity and violation of natural justice principles. Additionally, penalties were not justified for the differences in Annual Letting Value (ALV) of the property, disallowance of set off of brought forward losses, disallowance of set off of business loss, and application of Rule 8D for disallowance under section 14A. en-us Thu, 09 Nov 2017 00:00:00 +0530 Tue, 21 Nov 2017 08:53:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351186 The tribunal allowed the appeals of the assessee, directing the deletion of penalties imposed under section 271(1)(c) for all the assessment years in question. The penalties were deleted due to the lack of clear specification of charges by the Assessing Officer, leading to ambiguity and violation of natural justice principles. Additionally, penalties were not justified for the differences in Annual Letting Value (ALV) of the property, disallowance of set off of brought forward losses, disallowance of set off of business loss, and application of Rule 8D for disallowance under section 14A. Case-Laws Income Tax Thu, 09 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351186