https://www.taxtmi.com/caselaws?id=199047 The Tribunal found the penalty proceedings under Section 271(1)(c) of the Income Tax Act to be unsustainable due to the Assessing Officer's failure to specify the grounds for penalty clearly. As a result, the assessee's appeal was allowed, and the Revenue's appeal was dismissed as academic. The Tribunal emphasized the importance of adhering to principles of natural justice and the necessity for precise grounds in penalty notices. The decision aligned with established legal principles and was in line with the Jurisdictional High Court's position. en-us Fri, 31 Mar 2017 00:00:00 +0530 Mon, 19 Feb 2018 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199047 The Tribunal found the penalty proceedings under Section 271(1)(c) of the Income Tax Act to be unsustainable due to the Assessing Officer's failure to specify the grounds for penalty clearly. As a result, the assessee's appeal was allowed, and the Revenue's appeal was dismissed as academic. The Tribunal emphasized the importance of adhering to principles of natural justice and the necessity for precise grounds in penalty notices. The decision aligned with established legal principles and was in line with the Jurisdictional High Court's position. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199047