https://www.taxtmi.com/caselaws?id=356441 The ITAT ruled in favor of the assessee, cancelling the penalty imposed under section 271(1)(c) of the Income Tax Act due to a defective notice lacking specific charges. The judgment emphasized the necessity of a clear charge in the show cause notice for penalty proceedings, following the view expressed by the Hon'ble Karnataka High Court. The decision highlighted the importance of adhering to legal requirements and principles of natural justice, ultimately leading to the cancellation of the penalty imposition in both appeals by the assessee. en-us Wed, 28 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356441 The ITAT ruled in favor of the assessee, cancelling the penalty imposed under section 271(1)(c) of the Income Tax Act due to a defective notice lacking specific charges. The judgment emphasized the necessity of a clear charge in the show cause notice for penalty proceedings, following the view expressed by the Hon'ble Karnataka High Court. The decision highlighted the importance of adhering to legal requirements and principles of natural justice, ultimately leading to the cancellation of the penalty imposition in both appeals by the assessee. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356441