https://www.taxtmi.com/caselaws?id=352249 The ITAT allowed the assessee's appeal and deleted the penalty imposed under Section 271(1)(c) of the Income Tax Act. The penalty notice's lack of specification on the charge rendered it unsustainable, reflecting a procedural defect. The excess claim for bad and doubtful debts, based on available data, was not deemed as concealment or furnishing inaccurate particulars. The ITAT's decision aligned with legal precedents and set aside the CIT(A)'s order, ultimately leading to the deletion of the penalty. en-us Wed, 15 Nov 2017 00:00:00 +0530 Mon, 11 Dec 2017 07:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352249 The ITAT allowed the assessee's appeal and deleted the penalty imposed under Section 271(1)(c) of the Income Tax Act. The penalty notice's lack of specification on the charge rendered it unsustainable, reflecting a procedural defect. The excess claim for bad and doubtful debts, based on available data, was not deemed as concealment or furnishing inaccurate particulars. The ITAT's decision aligned with legal precedents and set aside the CIT(A)'s order, ultimately leading to the deletion of the penalty. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352249