https://www.taxtmi.com/caselaws?id=353937 The tribunal found in favor of the assessee, a company facing penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961. The imposition of penalties by the Assessing Officer was challenged, citing a defective show cause notice under Section 274 that did not specify the nature of the charge. Relying on precedents from various High Courts and ITAT, the tribunal ruled the penalty invalid due to the defective notice. Consequently, the penalty was cancelled, and the appeal of the assessee was allowed. en-us Fri, 12 Jan 2018 00:00:00 +0530 Mon, 15 Jan 2018 07:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353937 The tribunal found in favor of the assessee, a company facing penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961. The imposition of penalties by the Assessing Officer was challenged, citing a defective show cause notice under Section 274 that did not specify the nature of the charge. Relying on precedents from various High Courts and ITAT, the tribunal ruled the penalty invalid due to the defective notice. Consequently, the penalty was cancelled, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353937