https://www.taxtmi.com/caselaws?id=357085 The Tribunal ruled in favor of the Assessee, a Non-Banking Finance Company, in a tax penalty case. The penalty imposed under section 271(1)(c) of the Income Tax Act was deemed unsustainable due to the invalid show cause notice under section 274 and the deletion of the quantum addition. The Tribunal canceled the penalty levied by the Assessing Officer, leading to the Assessee's appeals being allowed. en-us Wed, 14 Mar 2018 00:00:00 +0530 Sat, 17 Mar 2018 08:02:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357085 The Tribunal ruled in favor of the Assessee, a Non-Banking Finance Company, in a tax penalty case. The penalty imposed under section 271(1)(c) of the Income Tax Act was deemed unsustainable due to the invalid show cause notice under section 274 and the deletion of the quantum addition. The Tribunal canceled the penalty levied by the Assessing Officer, leading to the Assessee's appeals being allowed. Case-Laws Income Tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357085